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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Friday, 18 March 2011 07:07
SPOT GOLD
SPOT GOLD closed @ 14035 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 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 Limited Up while 13965 holds and Daily Trend is Turning Down while 14450 holds, so expect the price to have a Minimum Upside and the Bulls have to be Cautious. The Daily time frame, the Price is within the MA's but the Bulls gained 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 Upside. The Patterns are suggesting a choppy session with a potential to turn down soon. The 15min time frame, suggesting a choppy session until the break, 13980-65 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.
BULLS: 13975 13920 13825 BEARS: 14200 14260 14335
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 7180 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 10 pips from Precise Trader's Critical Sup. The Hourly Oscillators are Bullish and the Price is Within the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways Up while 7175 holds and Daily Trend is Limited Down while 7475 holds, so expect the price to be Choppy with a potential to Break Higher. The Daily time frame ,the Price is below the MA's ,the Bears gave up mildly towards the Close. The Patterns are suggesting the low may be seen soon. The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting an Upside bias. The Patterns are suggesting higher highs are expected. The 15min time frame, suggesting higher highs are expected, 7175-40 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles suggests that NZD is Strong against all the Crosses so the Bears may have to be Sidelined.
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USDSGD
USDSGD closed @ 12780 which was BELOW the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was 15 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bearish and the Price is Mildly Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Limited Down while 12805 holds and Daily Trend is Turning Up while 12635 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 , the Bears gained mildly towards the close. The Patterns are suggesting a Range Trading until the break . The Hourly time frame, the Price is mildly below the MA's and the Oscillators are suggesting a downside bias. The Patterns are suggesting lower lows are expected but may be limited. The 15min time frame, suggesting a choppy session with a potential to turn up soon, 12805-15 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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Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.