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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Wednesday, 18 August 2010 07:25
Spot Gold
SPOT GOLD closed @ 12250 which was UNCHANGED from the open and was within prior day's trading range. The High was PRECISELY at 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 Above the MA, so CAUTIOUS approach is needed. Hourly Trend is Turning Down while 12425 holds and Daily Trend is Limited Up while 12040 holds, so expect the price to Turn Down Soon, so the Bulls may stay Sidelined and the Bears get ready to pull the Trigger. The Daily Trend breached the Prior Day's High but the Price Closed unchanged towards the Close which signifies that the Bulls are Weakening. The Hourly Trend has been in a Range Trading with a Limited Upside Bias,12200-125 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 price breaks out of Zone 1 levels.
BULLS: 12180 12100 12025 BEARS: 12305 12365 12425
Today's Strategies: SHORT near 12385 12425 with a tight stop and 6-8 Pts price targets.
NZDUSD
NZDUSD closed @ 7120 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Res Tgt 1 and the Low was 5 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish but Weak and the Price is Within the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways while 7050 holds and Daily Trend is Turning Down while 7360 holds, so expect the price to be Choppy until Breakout. The Daily Trend breached the Prior Day's High but the Bulls gave up mildly towards the Close which signifies mild Weakness in the First half of the Day . The Hourly Trend has been in a Range Trading with no Clear Direction, 7080-50 are the Critical levels to watch to maintain the Bullish Outlook . On the 5 min is along the Horizontal Channel and expect a Choppy Session until the Break. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 7085 7040 6990 BEARS: 7150 7205 7245
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
USDSGD
USDSGD closed @ 13540 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 15 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways while 13600 holds and Daily Trend is Turning Up while 13460 holds, so expect the price to be Choppy until Breakout. The Daily Trend Plunged Below the Prior Day's Open but the Bears gave up Mildly towards the Close which signifies some Strength in the First half of the Day. The Hourly Trend has been in a Range Trading , 13600-50 are the Critical levels to watch to maintain the Bearish Outlook . On the 5 min is along the Horizontal Channel and expect 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: 13475 13425 13375 BEARS: 13615 13685 13735
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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