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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Thursday, 24 March 2011 06:33
SPOT GOLD
SPOT GOLD closed @ 14375 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Tgt 2 and the Low was PRECISELY at 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 14250 holds and Daily Trend is Sideways Up while 13925 holds, so expect the price to have a Minimum Upside and the Bulls have to be Cautious. The Daily time frame, the Price is 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 mildly above the MA's and the Oscillators are suggesting a limited Upside bias. The Patterns are suggesting a choppy session with a potential to turn down soon. The 15min time frame, suggesting a choppy session with a potential to turn down soon, 14320/14250 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: 14305 14250 14155 BEARS: 14430 14480 14530
Today's Strategies: SHORT near 14430 14480 with a tight stop and 6-8 pts price targets.
NZDUSD
NZDUSD closed @ 7405 which was UNCHANGED from the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Limited Up while 7375 holds and Daily Trend is Limited Down while 7585 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 ,the Bulls gained mildly 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 above the MA's and the Oscillators are suggesting an Upside bias. The Patterns are suggesting higher highs are expected but may be limited. The 15min time frame, suggesting higher highs are expected, 7375-65 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 until 7365 is regained .
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USDSGD
USDSGD closed @ 12655 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was 20 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are MIXED and the Price is Mildly Below the MA, so CAUTIOUS approach is needed. Hourly Trend is Turning Up while 12525 holds and Daily Trend is Limited Down while 12795 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 Bulls gained mildly towards the Close. The Patterns are suggesting the Price is trading at critical levels . The Hourly time frame, the Price is mildly below the MA's and the Oscillators are suggesting mixed signals. The Patterns are suggesting a choppy session until the break. The 15min time frame, suggesting a choppy session with a potential to turn up soon, 12690/12710 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.