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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Wednesday, 17 March 2010 06:08
Spot Gold
SPOT GOLD closed @ 11265 which was ABOVE the open and breached the previous day's high. The High was 0.5 Dollars from Precise Trader's Res Tgt 3 and the Low was 1 Dollars 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 11065 holds and Daily Trend is Sideways Up while 10905 holds, so expect the price to be Choppy with a Upside bias. The Daily Trend Rallied with the Bulls holding their gains till the close. The Hourly Trend has been in a Range Trading with the limited Upside Bias , 11120-11065 are the critical levels to watch to maintain the Bullish 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: 11165 11135 11055 BEARS: 11315 11385 11455
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : LONG @ the Break 11315 with a tight stop and 6-8 pts price targets.
NZDUSD
NZDUSD closed @ 7100 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Tgt 2 and the Low was 15 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 7040 holds and Daily Trend is Sideways Up while 6935 holds, so expect the price to be Choppy and Upside may be limited. The Daily Trend Rallied with the Bulls holding their gains till the close. The Hourly Trend has been in a Range Trading with the limited Upside Bias , 7075-40 are the critical levels to watch to maintain the Bullish 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 suggests that NZD is Strong against most Crosses so the it may be the Bulls day today.
BULLS: 7075 7005 6965 BEARS: 7155 7205 7260
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : LONG near 7060 6995 with a tight stop with a 50 pips price target.
USDSGD
USDSGD closed @ 13950 which was BELOW 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 Bearish and the price is Within the MA, so the Bulls have to be sidelined. Hourly Trend is Sideways Down while 14025 holds and Daily Trend is Sideways while 14045 holds, so expect the price to be Choppy with a Downside bias. The Daily Trend was within the prior day's Range with the Bears giving up mildly towards the close. The Hourly Trend has been in a Range Trading with a Downside Bias but 13915 is a Critical levels to watch for the Bears , 14005-25 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 Choppy Session until the break . The Opening Price Principles are mixed so Cautious approach is needed until the break.
BULLS: 13910 13865 13805 BEARS: 13980 14030 14110
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only