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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Tuesday, 21 September 2010 07:03
Spot Gold
SPOT GOLD closed @ 12785 which was ABOVE the open and was within prior day's trading range. The High was 1 Dollars from Precise Trader's Res Tgt 2 and the Low was 2.5 Dollars from 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 Limited Up while 12710 holds and Daily Trend is also Limited Up while 12505 holds, so expect the price to have a Minimum Upside and the Bulls have to be Cautious. The Daily Trend is Bullish but is approaching Critical Levels , the Bulls gave up Mildly towards the Close which signifies that the Bulls are Weakening. The MA is suggesting a Choppy session with Weakness 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 ,12735-710 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 12660 12600 BEARS: 12850 12930 13010
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 7305 which was ABOVE the open and was within prior day's trading range. The High was 10 pips from Precise Trader's Res Tgt 2 and the Low was 15 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 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 , 7265-00 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 @ 13340 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 PRECISELY at 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 13415 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,13395-13415 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: 13295 13240 13200 BEARS: 13360 13410 13465
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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