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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Wednesday, 22 September 2010 06:27
Spot Gold
SPOT GOLD closed @ 12865 which was ABOVE the open and breached the previous day's high. The High was 0.5 Dollars from Precise Trader's Res Zone 5 (U Turn Zone) and the Low was PRECISELY at Precise Trader's Hrly Level. The Hourly Oscillators are Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Turning Down while 13025 holds and Daily Trend is Limited Up while 12555 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 Bulls gave up mildly towards the Close which signifies a Choppy session with some Strength . The MA is suggesting a Bullish Bias and the Oscillators are suggesting the Same. The Hourly Trend has been in a Range Trading with a Price Target 12955/13025/13105 levels and the Patterns are suggesting that the Bulls may Struggle near 13025/13105 levels, 12810-12750 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: 12805 12725 12625 BEARS: 12960 13025 13105
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 7350 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways Up while 7280 holds and Daily Trend is Sideways while 7190 holds, so expect the price to be Choppy with a potential to Break Higher. The Daily Trend breached the Prior Day's High and the Bulls were holding till the Close which signifies some more Strength . The MA is suggesting a Bullish Bias and the Oscillators are suggesting the Same. The Hourly Trend has been in a Range Trading with a Price Target 7465/7550 levels and the Patterns are suggesting that the Bulls need to crack the 7390 level for further gains, 7310-7280 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: 7315 7275 7205 BEARS: 7390 7465 7490
Today's Strategies: LONG near 7315 7275 with a tight stop with a 50 pips price target.
USDSGD
USDSGD closed @ 13305 which was BELOW the open and breached the previous day's low. The High was 25 pips from 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 Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 13375 holds and Daily Trend is Limited Down while 13445 holds, so expect the price to be Choppy with a potential to Break Lower. The Daily Trend breached the Prior Day's Low but the Bears gave up mildly towards the Close which signifies a Choppy session with some Strength . The MA is suggesting a Bearish Bias and the Oscillators are suggesting the Same. The Hourly Trend has been Creeping Lower with a Price Target 13200 /13110 and the Patterns are suggesting that the Bears may Struggle near 13230-00 levels, 13340-75 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: 13270 13230 13165 BEARS: 13310 13360 13390
Today's Strategies: Trade @ the Bears Levels Only.
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