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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Friday, 27 August 2010 05:48
Spot Gold
SPOT GOLD closed @ 12355 which was BELOW 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 Tgt 1. 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 12495 holds and Daily Trend is Limited Up while 12105 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 Bears gained towards the Close which signifies the high may have been seen. The Hourly Trend has been in a Range Trading with a Downside Bias,12410-445 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 Turn Down Soon. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 12335 12205 12105 BEARS: 12415 12475 12525
Today's Strategies: Trade @ the Bears Levels Only.
NZDUSD
NZDUSD closed @ 7030 which was ABOVE the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Zone 5 (U Turn Zone) 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 6970 holds and Daily Trend is also Sideways while 7195 holds, so expect the price to be Choppy until Breakout. The Daily Trend breached the Prior Day's High marginally but the Bulls gave up partially towards the Close which signifies a Choppy Session with some Weakness in the First half of the Day. The Hourly Trend has been in a Range Trading with no Clear Direction, 6990-70 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: 7020 6980 6930 BEARS: 7075 7125 7185
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
USDSGD
USDSGD closed @ 13555 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 Zone 1. The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 13625 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 gained towards the Close which signifies Choppy Session a Head. The Hourly Trend has been in a Range Trading , 13610-25 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: 13525 13460 13400 BEARS: 13585 13640 13705
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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