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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Thursday, 18 March 2010 06:54
Spot Gold
SPOT GOLD closed @ 11255 which was UNCHANGED from 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 2.5 Dollars from Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bearish and the price is Above the MA, so the Bulls have to be sidelined. Hourly Trend is Corrective Down while 11330 holds and Daily Trend is Sideways Up while 10905 holds, so expect the price to be Choppy with a Downside bias. The Daily Trend breached the prior Day's High but the Bulls gave up all their gains and closed Unchanged . The Hourly Trend has been in a Range Trading with the limited Downside Bias , 11285-11330 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 with a limited Downside. The Opening Price Principles are mixed so Cautious approach is needed until the break.
BULLS: 11205 11115 11025 BEARS: 11295 11385 11455
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : SHORT near 11285 11330 with a tight stop and 6-8 pts price targets.
NZDUSD
NZDUSD closed @ 7145 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 Turning Bearish and the price is Above the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Corrective Up while 7075 holds and Daily Trend is also Corrective Up while 6945 holds, so expect the price to be Choppy and Upside may be limited. The Daily Trend Rallied with the Bulls giving up half of their gains towards the close. The Hourly Trend has been in a Range Trading with the limited Upside Bias , 7105-7075 are the critical levels to watch to maintain the Bullish Outlook . On the 5 min is along the Horizontal Channel and the Patterns are suggesting a Choppy Session with a potential to Turn Down soon. The Opening Price Principles are mixed so Cautious approach is needed until the break.
BULLS: 7120 7040 6975 BEARS: 7170 7205 7260
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : SHORT near 7170 7205 with a tight stop with a 50 pips price target.
USDSGD
USDSGD closed @ 13925 which was BELOW the open and breached the previous day's low. 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 Below the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 13980 holds and Daily Trend is also Sideways while 14045 holds, so expect the price to be Choppy and Downside may be limited. The Daily Trend breached the prior day's Low with the Bears giving up mildly towards the close. The Hourly Trend has been in a Range Trading with a limited Downside Bias , 13980-14005 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: 13905 13860 13780 BEARS: 13960 14005 14075
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only