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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Thursday, 26 August 2010 07:29
Spot Gold
SPOT GOLD closed @ 12400 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 1 Dollars from 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 12265 holds and Daily Trend is also Limited Up while 12075 holds, so expect the price to have a Minimum Upside and the Bulls have to be Cautious. The Daily Trend Rallied above the Prior Day's High but the Bulls were holding till the Close but the Price has reached the Critical levels. The Hourly Trend has been in a Range Trading with a Limited Upside Bias,12345-265 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: 12305 12135 12055 BEARS: 12465 12550 12645
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 6995 which was BELOW the open and breached the previous day's low. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was 5 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are Turning Bullish and the Price is Within the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Turning Up while 6920 holds and Daily Trend is Sideways while 7195 holds, so expect the price to Turn Up Soon, so the Bears may stay Sidelined and the Bulls 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 some Strength in the First half of the Day. The Hourly Trend has been in a Range Trading with a Limited Downside Bias but the Bulls need to crack 7035 for further gains, 6955-20 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 with a potential to break Higher provided 6955-20 holds. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 6980 6940 6890 BEARS: 7045 7095 7145
Today's Strategies: LONG near 6980 6940 with a tight stop with a 50 pips price target.
USDSGD
USDSGD closed @ 13580 which was BELOW the open and was within prior day's trading range. The High was 25 pips from Precise Trader's Res Zone 1 and the Low was 20 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bearish but Weak and the Price is Within the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Sideways while 13655 holds and Daily Trend is Limited Down while 13725 holds, so expect the price to be Choppy until Breakout. The Daily Trend was within the Prior Day's Range but the Bears gave up mildly towards the Close which signifies Choppy Trading a Head. The Hourly Trend has been in a Range Trading , 13615-55 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: 13545 13505 13460 BEARS: 13605 13640 13705
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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