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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Tuesday, 22 March 2011 06:17
SPOT GOLD
SPOT GOLD closed @ 14265 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 4 Dollars 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 Limited Up while 14150 holds and Daily Trend is Sideways while 13875 holds, so expect the price to have a Minimum Upside and the Bulls have to be Cautious. The Daily time frame, the Price is mildly above the MA's but the Bulls gave up mildly towards the Close. The Patterns are suggesting the Bulls are approaching stiff resistance . The Hourly time frame, the Price is above the MA's and the Oscillators are suggesting a limited Upside bias. The Patterns are suggesting a choppy session with a limited upside bias. The 15min time frame, suggesting a choppy session with a potential to turn down soon, 14210/14150 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: 14205 14115 14055 BEARS: 14335 14385 14450
Today's Strategies: SHORT near 14385 14450 with a tight stop and 6-8 pts price targets.
NZDUSD
NZDUSD closed @ 7355 which was ABOVE the open and breached the previous day's high. The High was 10 pips from Precise Trader's Res Tgt 1 and the Low was 5 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 Turning Down while 7460 holds and Daily Trend is Limited Down while 7515 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 time frame ,the Price is below the MA's ,the Bulls gained towards the Close. The Patterns are suggesting the low may have been seen but the price is approaching stiff resistance. The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting a limited Upside bias. The Patterns are suggesting higher highs are expected but may be limited. The 15min time frame, suggesting higher highs are expected, 7315/7285 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.
USDSGD
USDSGD closed @ 12660 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 25 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bearish but Oversold and the Price is Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Turning Up while 12525 holds and Daily Trend is Limited Down while 12875 holds, so expect the price to Turn Up Soon, so the Bears may stay Sidelined and the Bulls get ready to pull the Trigger. The Daily time frame ,the Price is mildly below the MA's , the Bears gained aggressively towards the Close. The Patterns are suggesting the Price is trading at critical levels . The Hourly time frame, the Price is below the MA's and the Oscillators are suggesting a limited 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, 12705-25 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.