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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Friday, 05 March 2010 06:54
Spot Gold
SPOT GOLD closed @ 11325 which was BELOW the open and was within prior day's trading range. The High was 1 Dollars from Precise Trader's Res Zone 1 and the Low was 1 Dollars from Precise Trader's Sup Zone 5 (U Turn Zone). The Hourly Oscillators are Bearish and the price is Within the MA, so the Bulls have to be sidelined. Hourly Trend is Sideways Down while 11440 holds and Daily Trend is Corrective Up while 11035 holds, so expect the price to be Choppy with a Downside bias. The Daily Trend was within prior day's Range but the Bears gave up some of the gains towards the close. The Hourly Trend has been in a Range Trading with a Downside Bias ,11380-11440 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 lower lows are expected provided 11380-11440 holds. The Opening price principles are mixed so Cautious approach is needed until the break.
BULLS: 11245 11175 11096 BEARS: 11390 11465 11540
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : SHORT near 11380 11440 with a tight stop and 6-8 pts price targets.
NZDUSD
NZDUSD closed @ 6865 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 5 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are MIXED and the price is Below the MA, so CAUTIOUS approach is needed. Hourly Trend is Corrective Down while 6945 holds and Daily Trend is Sideways while 7085 holds, so expect the price to be Choppy with a Downside bias. The Daily Trend plunged with the Bears holding their gains towards the close. The Hourly Trend has been in a Range Trading with a limited Downside Bias ,6920-45 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 downside bias but 6840 should give way first for further weakness. The Opening price principles are mixed so Cautious approach is needed until the break.
BULLS: 6845 6785 6735 BEARS: 6905 6970 7050
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : SHORT near 6905 6945 with a tight stop with a 50 pips price target.
USDSGD
USDSGD closed @ 14015 which was ABOVE the open and was within prior day's trading range. The High was 10 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bullish and the price is Below the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Turning Up while 13950 holds and Daily Trend is Sideways while 14125 holds, so expect the price to be Choppy with a Upside bias. The Daily Trend breached the prior day's Low but the Bulls gained towards the close. The Hourly Trend has been in a Range Trading with the Upside Bias , 13975-50 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 Choppy Session with Higher highs . The Opening price principle are mixed so Cautious approach is needed until the break.
BULLS: 13950 13890 13850 BEARS: 14065 14125 14160
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only