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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Friday, 12 March 2010 06:01
Spot Gold
SPOT GOLD closed @ 11100 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 5 (U Turn Zone) and the Low was PRECISELY at Precise Trader's Sup Tgt 2. The Hourly Oscillators are Turning Bullish and the price is Below the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Corrective Down while 11230 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 breached the prior day's Low but managed to close Unchanged towards the close. The Hourly Trend has been in a Range Trading with a potential to Turn Up soon, 11165-11230 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 reverse Up soon. The Opening price principles are mixed so Cautious approach is needed until the break.
BULLS: 11050 11000 10935 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 @ 7005 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 PRECISELY at Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bearish but Weak and the price is Within the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Sideways while 7075 holds and Daily Trend is also Sideways while 6845 holds, so expect the price to be Choppy until the breakout happens. The Daily Trend breached the prior day's Low but the Bears gave up most of the gains towards the close. The Hourly Trend has been in a Range Trading with no clear Direction, 7045- 75 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 a Choppy Session until the break. The Opening price principles are mixed so Cautious approach is needed until the break.
BULLS: 6955 6905 6845 BEARS: 7030 7075 7110
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only
USDSGD
USDSGD closed @ 13975 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 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 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: 13940 13880 13830 BEARS: 14030 14070 14125
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only