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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Wednesday, 10 March 2010 06:39
Spot Gold
SPOT GOLD closed @ 11220 which was BELOW the open and was within prior day's trading range. The High was 2 Dollars from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bullish but Weak and the price is Below the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways while 11325 holds and Daily Trend is Turning Down while 11450 holds, so expect the price to be Choppy and Upside may be limited. The Daily Trend plunged but the Bears gave up most of the gains towards the close. The Hourly Trend has been in a Range Trading with the limited Upside Bias ,11325- 11385 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 a Choppy Session until the break. The Opening price principles are mixed so Cautious approach is needed until the break.
BULLS: 11175 11085 11010 BEARS: 11270 11330 11385
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only
NZDUSD
NZDUSD closed @ 7030 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was 5 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bullish but Weak and the price is Above the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways Up while 6985 holds and Daily Trend is Sideways while 6850 holds, so expect the price to be Choppy and Upside may be limited. The Daily Trend was within prior day's Range with the Bulls gaining marginally towards the close. The Hourly Trend has been Creeping Higher but the Upside may be limited , 7005-6985 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 Higher highs are expected but may be limited. The Opening price principles suggests that NZD is Strong at least four Crosses so the Bulls may creep higher.
BULLS: 6980 6930 6875 BEARS: 7070 7115 7135
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : LONG @ the Break 7055 with a tight stop with a 50 pips price target.
USDSGD
USDSGD closed @ 14000 which was UNCHANGED from the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was 15 pips from 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 ,14070-14125 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