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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Wednesday, 03 March 2010 07:04
Spot Gold
SPOT GOLD closed @ 11350 which was ABOVE the open and breached the previous day's high. The High was 2.5 Dollars from Precise Trader's Res Tgt 2 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish and the price is Above the MA, so the Bears have to be sidelined. Hourly Trend is Corrective Up while 11185 holds and Daily Trend is also Corrective Up while 11025 holds, so expect the price to be Choppy and Upside may be limited. The Daily Trend rallied and breached the prior day's high and closed well above the open. The Hourly Trend has been in a Range Trading with a limited Upside Bias but the Bulls must clear the 11385 barrier,11315-11185 are the critical levels to watch to maintain the Bullish outlook . On the 5 min is along the Horizontal Channel and the patterns are suggesting a Choppy Session with an Upside potential. The Opening price principles are mixed so Cautious approach is needed until the break.
BULLS: 11300 11225 11145 BEARS: 11400 11480 11580
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : LONG @ the Break 11400 with a tight stop and 6-8 pts price targets.
NZDUSD
NZDUSD closed @ 6960 which was BELOW the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was 10 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are Turning Bullish and the price is Within the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Sideways while 6890 holds and Daily Trend is also Sideways while 7120 holds, so expect the price to be Choppy with a Upside bias. The Daily Trend was within prior day's Range with the Bears giving up marginally towards the close. The Hourly Trend has been in a Range Trading with no clear direction ,6920-6890 are the critical levels to watch to maintain the Bullish outlook . On the 5 min is along the Horizontal Channel and the price patterns are suggesting a Choppy Session until the break. The Opening price principles are mixed so Cautious approach is needed until the break.
BULLS: 6925 6880 6845 BEARS: 7000 7045 7100
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : LONG @ the Break 7000 with a tight stop with a 50 pips price target.
USDSGD
USDSGD closed @ 14030 which was BELOW the open and breached the previous day's low. The High was 15 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bearish and the price is Below the MA, so the Bulls have to be sidelined. Hourly Trend is Corrective Down while 14095 holds and Daily Trend is Sideways while 14165 holds, so expect the price to be Choppy and Downside may be limited. The Daily Trend breached the prior day's Low and the Bears gave up marginally towards the close. The Hourly Trend has been in a Range Trading with the limited Downside , 14065-95 are the critical levels to watch to maintain the Bearish outlook . On the 5 min is along the gradual Down Channel and the price patterns are suggesting Choppy Session with a potential to turn up soon . The Opening price principle are mixed so Cautious approach is needed until the break.
BULLS: 13995 13950 13885 BEARS: 14065 14095 14175
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only