Members login
Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Monday, 08 March 2010 06:12
Spot Gold
SPOT GOLD closed @ 11350 which was ABOVE the open and was within prior day's trading range. The High was 1.5 Dollars from Precise Trader's Hrly Level and the Low was PRECISELY at Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bullish and the price is Within the MA, so the Bears have to be sidelined. Hourly Trend is Sideways while 11235 holds and Daily Trend is also Sideways while 11035 holds, so expect the price to be Choppy with a Upside bias. The Daily Trend was within prior day's Range but the Bulls gave up some most of the gains towards the close. The Hourly Trend has been in a Range Trading with no clear direction ,11295-11235 are the critical levels to watch to maintain the Bullish outlook . On the 5 min is along the gradual Down Channel and the patterns are suggesting a Choppy Session until the break. The Opening price principles are mixed so Cautious approach is needed until the break.
BULLS: 11285 11235 11185 BEARS: 11400 11485 11565
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only
NZDUSD
NZDUSD closed @ 6965 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Res Zone 5 (U Turn Zone) and the Low was 10 pips from 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 6905 holds and Daily Trend is Sideways while 6805 holds, so expect the price to make Higher Highs. The Daily Trend Rallied with the Bulls holding their gains towards the close. The Hourly Trend has been Creeping Higher and expect the price to continue in this manner , 6950-05 are the critical levels to watch to maintain the Bullish outlook . On the 5 min is along the gradual Up Channel and the price patterns are suggesting higher highs are expected provided 6940 is not breached. The Opening price principles suggests that NZD is strong against four Crosses so it might be a Bulls day today.
BULLS: 6955 6905 6860 BEARS: 7075 7130 7180
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : LONG @ the Break 7025 with a tight stop with a 50 pips price target.
USDSGD
USDSGD closed @ 14015 which was UNCHANGED from the open and was within prior day's trading range. 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 MIXED and the price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 14070 holds and Daily Trend is also Sideways while 14125 holds, so expect the price to be Choppy until the breakout happens. The Daily Trend was within prior day's Range with the price closing unchanged towards the close. The Hourly Trend has been in a Range Trading with no clear direction ,14050-70 are the critical levels to watch to maintain the Bearish outlook . On the 5 min is along the Horizontal Channel and the price patterns are suggesting Choppy Session until the break . The Opening price principle are mixed so Cautious approach is needed until the break.
BULLS: 13950 13890 13850 BEARS: 14050 14125 14160
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only