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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Tuesday, 16 March 2010 06:11
Spot Gold
SPOT GOLD closed @ 11090 which was ABOVE the open and was within prior day's trading range. The High was 2.5 Dollars from Precise Trader's Res Tgt 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 Corrective Down while 11195 holds and Daily Trend is Sideways Down while 11400 holds, so expect the price to be Choppy until the breakout happens. The Daily Trend was within prior day's Range with the Bulls holding their gains till the close. The Hourly Trend has been in a Range Trading with no Clear Direction , 11155-11195 are the critical levels to watch to maintain the Bearish Outlook . On the 5 min is along the gradual Up 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: 11030 10955 10885 BEARS: 11155 11185 11285
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only
NZDUSD
NZDUSD closed @ 7015 which was UNCHANGED from the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bullish and the price is Above the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Sideways while 6965 holds and Daily Trend is also Sideways while 6845 holds, so expect the price to be Choppy with a Upside bias. The Daily Trend was within the prior day's Range and the price closed unchanged towards the close. The Hourly Trend has been in a Range Trading with a mild Bullish Bias, 6990-65 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 a Choppy Session with an Upside Bias. The Opening Price Principles are mixed but NZD is Strong against at least Three Crosses so it may be a Bulls day today.
BULLS: 6990 6950 6910 BEARS: 7075 7120 7160
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 @ 13970 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was 20 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bullish and the price is Within the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Sideways while 14025 holds and Daily Trend is also Sideways while 14065 holds, so expect the price to be Choppy until the breakout happens. The Daily Trend was within the prior day's Range with the Bulls giving up mildly towards the close. The Hourly Trend has been in a Range Trading with no Clear Direction , 14010-30 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: 13935 13880 13825 BEARS: 13995 14035 14115
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only