Members login
Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Thursday, 04 March 2010 06:31
Spot Gold
SPOT GOLD closed @ 11410 which was ABOVE the open and breached the previous day's high. The High was 1 Dollars from Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bearish and the price is Above the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Turning Down while 11545 holds and Daily Trend is Corrective Up while 11125 holds, so expect the price to be Choppy and Upside may be limited. The Daily Trend breached the prior day's high but the Bulls gave up some of the gains towards the close. The Hourly Trend has been in a Range Trading with a limited Upside Bias ,11455-11545 are the critical levels to watch to maintain the Bearish outlook . On the 5 min is along the Horizontal Channel and the patterns are suggesting that the price may have topped provided 11485 holds. The Opening price principles are mixed so Cautious approach is needed especially for the Bulls.
BULLS: 11300 11225 11145 BEARS: 11440 11480 11540
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : SHORT near 11440 11480 with a tight stop and 6-8 pts price targets.
NZDUSD
NZDUSD closed @ 6945 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 PRECISELY at Precise Trader's Hrly Level. The Hourly Oscillators are Bearish but Weak and the price is Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Sideways Down while 7000 holds and Daily Trend is Sideways while 7120 holds, so expect the price to be Choppy with a Downside bias. The Daily Trend was within prior day's Range with the Bears giving up most of the gains towards the close. The Hourly Trend has been in a Range Trading with the Downside Bias ,6985-7000 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 a Choppy Session with a potential to break lower. The Opening price principles suggests that NZD is Weak against most of the Crosses so the Bulls have to be Sidelined and expect the price to close near the lows.
BULLS: 6885 6840 6785 BEARS: 6970 7000 7050
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : SHORT near 6970 7000 with a tight stop with a 50 pips price target.
USDSGD
USDSGD closed @ 13995 which was BELOW the open and breached the previous day's low. The High was 20 pips from Precise Trader's Res Zone 1 and the Low was 10 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bearish but Weak and the price is Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Corrective Down while 14085 holds and Daily Trend is Sideways Down while 14125 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 holding their gains 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: 13960 13910 13850 BEARS: 14040 14075 14125
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only