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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Monday, 20 September 2010 07:11
Spot Gold
SPOT GOLD closed @ 12745 which was UNCHANGED from the open and was within prior day's trading range. The High was 2 Dollars from Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bearish but Weak and the Price is Above the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Sideways while 12690 holds and Daily Trend is Limited Up while 12505 holds, so expect the price to be Choppy until Breakout. The Daily Trend is Bullish but is approaching Critical Levels , the Price Closed unchanged towards the Close which signifies a Choppy session until the break. The MA is suggesting a Choppy session with a Bullish Bias and the Oscillators are suggesting the same . The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session until the break ,12690-660 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 12705 12625 12550 BEARS: 12850 12930 13010
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 7255 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 15 pips from Precise Trader's Hrly Level. 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 7200 holds and Daily Trend is also Sideways while 7160 holds, so expect the price to be Choppy until Breakout. The Daily Trend is within Range Trading and the Bulls gained Mildly towards the Close which signifies a Choppy session with some Strength. The MA is suggesting a Choppy Session and the Oscillators are saying the same. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session until the break , 7215-00 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 7240 7175 7105 BEARS: 7310 7375 7435
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
USDSGD
USDSGD closed @ 13360 which was BELOW the open and was within prior day's trading range. The High was 15 pips from Precise Trader's Res Zone 1 and the Low was 5 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 13430 holds and Daily Trend is Limited Down while 13485 holds, so expect the price to be Choppy until Breakout. The Daily Trend is Bearish but is losing momentum the Price was within the Prior few Day's Range and the Bears gained Mildly towards the Close which signifies a Choppy session until the break . The MA is suggesting a Choppy Session with a Downside Bias and the Oscillators are suggesting the same . The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session until the Break,13415-30 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 13315 13265 13215 BEARS: 13400 13465 13515
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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