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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Tuesday, 27 July 2010 06:49
Spot Gold
SPOT GOLD closed @ 11845 which was BELOW 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 3.5 Dollars from Precise Trader's Sup Zone 5 (U Turn Zone). 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 11980 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 Downside Bias and the Bears need to crack the11750 level for further gains ,11895-11980 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: 11785 11705 11625 BEARS: 11935 12015 12100
Today's Strategies: SHORT near 11935 11980 with a tight stop and 6-8 Pts price targets.
NZDUSD
NZDUSD closed @ 7340 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 PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish but Weak and the Price is Above the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Limited Up while 7265 holds and Daily Trend is Sideways Up while 7175 holds, so expect the price to have a Minimum Upside and the Bulls have to be Cautious. The Daily Trend breached the Prior Day's High and the Bulls were holding till the Close . The Hourly Trend has been in a Range Trading with a Limited Upside Bias but the Bulls need to crack the 7365-80 for further gains, 7300-7265 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: 7265 7220 7180 BEARS: 7390 7460 7520
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
USDSGD
USDSGD closed @ 13595 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 2. The Hourly Oscillators are Bearish but Oversold and the Price is Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Limited Down while 13685 holds and Daily Trend is Sideways Down while 13805 holds, so expect the price to have a Minimum Downside and the Bears have to be Cautious. The Daily Trend Plunged Below the Prior Day's Low and the Bears were holding their gains till the Close . The Hourly Trend has been in a Range Trading with a Limited Downside Bias, 13650-85 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 once 13580-60 gives way but should be Limited. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 13580 13525 13480 BEARS: 13645 13685 13745
Today's Strategies: SHORT near 13645 13685 with a tight stop with a 50 pips price target.
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