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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Thursday, 11 March 2010 06:38
Spot Gold
SPOT GOLD closed @ 11095 which was BELOW the open and was within prior day's trading range. The High was 0.5 Dollars from Precise Trader's Res Tgt 1 and the Low was 2 Dollars from Precise Trader's Sup Tgt 2. 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 11280 holds and Daily Trend is Sideways Down while 11380 holds, so expect the price to be Choppy and Downside may be limited. The Daily Trend plunged but the Bears gave up mildly towards the close. The Hourly Trend has been in a Range Trading with the Downside Bias ,11190-11280 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 with a potential to break lower. The Opening price principles are mixed so Cautious approach is needed until the break.
BULLS: 11000 10945 10845 BEARS: 11150 11230 112850
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only
NZDUSD
NZDUSD closed @ 7020 which was UNCHANGED from the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Tgt 2 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bearish and the price is Within the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Sideways Down while 7060 holds and Daily Trend is Sideways while 6880 holds, so expect the price to be Choppy with a Downside bias. The Daily Trend breached the prior day's High but the Bulls surrendered totally towards the close. The Hourly Trend has been Creeping Lower and expect it to continue in this manner, 7025- 60 are the critical levels to watch to maintain the Bearish outlook . On the 5 min is along the steep Down Channel and the price patterns are suggesting Lower Lows are expected while 7025-60 holds. The Opening price principles suggests that NZD is Weak against all the Crosses and expect the price to close near the lows.
BULLS: 6960 6910 6845 BEARS: 7045 7085 7125
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : SHORT near 7025 7045 with a tight stop with a 50 pips price target.
USDSGD
USDSGD closed @ 13985 which was BELOW the open and was within prior day's trading range. The High was 25 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 Bears giving up mildly 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