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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Wednesday, 16 March 2011 05:54
SPOT GOLD
SPOT GOLD closed @ 13970 which was BELOW the open and breached the previous day's low. The High was 2 Dollars from Precise Trader's Res Zone 1 and the Low was 13.5 Dollars from Precise Trader's Sup Zone 10. The Hourly Oscillators are Bearish but Weak and the Price is Mildly Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Limited Down while 14115 holds and Daily Trend is Turning Down while 14450 holds, so expect the price to have a Minimum Downside and the Bears have to be Cautious. The Daily time frame, the Price is within the MA's but the Price plugged below the open but the Bears gave up mildly towards the close, the patterns are suggesting a reversal down may have happened. The Hourly time frame, the Price is mildly below the MA's and the Oscillators are suggesting limited downside. The Patterns are suggesting a choppy session until the break. The 15min time frame, suggesting a choppy session until the break, 14025-115 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 2 levels.
BULLS: 13815 13700 13615 BEARS: 14035 14135 14265
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 7315 which was BELOW the open and breached the previous day's low. The High was 10 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 3. The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 7375 holds and Daily Trend is also Sideways while 7535 holds, so expect the price to be Choppy until Breakout. The Daily time frame ,the Price is mildly below the MA's ,the Bears gave up mildly towards the Close. The Patterns are suggesting a Range trading until the break. The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting limited downside. The Patterns are suggesting a choppy session until the break. The 15min time frame, suggesting a choppy session until the break, 7355-75 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 2 levels.
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USDSGD
USDSGD closed @ 12825 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Res Tgt 3 and the Low was 30 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish but Weak and the Price is Mildly Above the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways Up while 12705 holds and Daily Trend is Turning Up while 12635 holds, so expect the price to be Choppy with a potential to Break Higher. The Daily time frame ,the Price is within the MA's , the Price Rallied above the open but the Bulls gave up mildly towards the close. The Patterns are suggesting that the Low may have been seen . The Hourly time frame, the Price is mildly above the MA's and the Oscillators are suggesting a limited downside bias. The Patterns are suggesting a Range trading until the break. The 15min time frame, suggesting a choppy session with a potential to break higher, 12760-05 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 2 levels.
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Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.