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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Monday, 23 August 2010 07:18
Spot Gold
SPOT GOLD closed @ 12280 which was BELOW the open and was within prior day's trading range. The High was 0.5 Dollars from Precise Trader's Res Zone 1 and the Low was 2 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 Turning Down while 12415 holds and Daily Trend is Limited Up while 12085 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 Low but the Bears gave up Partially towards the Close which signifies that the Bulls are Weakening but may have a mild strength in the First half of the day. The Hourly Trend has been in a Range Trading with a Limited Upside Bias,12230-210 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: 12245 12145 12015 BEARS: 12335 12385 12435
Today's Strategies: SHORT near 12335 12375 with a tight stop and 6-8 Pts price targets.
NZDUSD
NZDUSD closed @ 7065 which was UNCHANGED from the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was 20 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 7110 holds and Daily Trend is Sideways Down while 7275 holds, so expect the price to be Choppy until Breakout. The Daily Trend breached the Prior Day's Low but the Bulls gave up all their gains towards the Close which signifies some strength in the First half of the Day. The Hourly Trend has been in a Range Trading with a Downside Bias but the Bears need to crack 7025-00 for further gains, 7095-7110 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: 7025 6990 6920 BEARS: 7110 7145 7205
Today's Strategies: SHORT near 7110 7145 with a tight stop with a 50 pips price target.
USDSGD
USDSGD closed @ 13560 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Hrly Level and the Low was 15 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bearish and the Price is Within the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Sideways while 13510 holds and Daily Trend is Limited Down while 13700 holds, so expect the price to be Choppy until Breakout. The Daily Trend breached the Prior Day's High but the Bulls gave up most of their gains towards the Close which signifies some Weakness in the First half of the Day. The Hourly Trend has been in a Range Trading , 13510-00 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 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: 13505 13440 13380 BEARS: 13580 13635 13705
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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