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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Monday, 26 July 2010 07:12
Spot Gold
SPOT GOLD closed @ 11890 which was BELOW the open and was within prior day's trading range. The High was 1.5 Dollars from Precise Trader's Res Tgt 1 and the Low was 0.5 Dollars from Precise Trader's Sup Zone 5 (U Turn Zone). 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 12025 holds and Daily Trend is also Sideways Down while 12245 holds, so expect the price to be Choppy with a potential to Break Lower. The Daily Trend was within the Prior Day's Range but the Bears gained towards the Close . The Hourly Trend has been in a Range Trading with a Limited Upside Bias and the Bears need to crack the11838 level for further gains ,11940-12025 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 price breaks out of Zone 1 levels.
BULLS: 11855 11755 11675 BEARS: 11985 12035 12100
Today's Strategies: SHORT near 11985 12035 with a tight stop and 6-8 Pts price targets.
NZDUSD
NZDUSD closed @ 7275 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 PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bearish but Weak and the Price is Above the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Sideways while 7200 holds and Daily Trend is Sideways Up while 7045 holds, so expect the price to be Choppy until Breakout. The Daily Trend was within the Prior Day's Range and the Bulls gained mildly towards the Close . The Hourly Trend has been in a Range Trading with an Upside Bias but the Bulls need to crack the 7300-15 for further gains, 7235-00 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 until there is a Clear Break . The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 7195 7145 7095 BEARS: 7305 7385 7450
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
USDSGD
USDSGD closed @ 13705 which was BELOW the open and breached the previous day's low. The High was 20 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 Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 13760 holds and Daily Trend is also Sideways Down while 13845 holds, so expect the price to be Choppy with a potential to Break Lower. The Daily Trend was within the Prior few Day's Range but the Bears gained towards the Close . The Hourly Trend has been in a Range Trading with a Downside Bias, 13740-60 are the Critical levels to watch to maintain the Bearish Outlook . On the 5 min is along the gradual Down Channel and the Patterns are suggesting Lower lows are expected but Cautious approach is needed until the Bears crack the 13645 level. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 13645 13600 13560 BEARS: 13715 13745 13805
Today's Strategies: SHORT near 13715 13745 with a tight stop with a 50 pips price target.
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