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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Thursday, 31 March 2011 06:35
SPOT GOLD
SPOT GOLD closed @ 14250 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 Tgt 1. The Hourly Oscillators are MIXED and the Price is Mildly Above the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 14400 holds and Daily Trend is Limited Up while 13865 holds, so expect the price to be Choppy until Breakout. The Daily time frame, the Price is within the MA's but the Bulls gave up mildly towards the Close. The Patterns are suggesting a Range trading until the break . The Hourly time frame, the Price is mildly above the MA's and the Oscillators are suggesting a mixed signals . The Patterns are suggesting a choppy session until the break. The 15min time frame, suggesting a choppy session until the break, 14335/14400 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: 14200 14125 14025 BEARS: 14315 14385 14475
Today's Strategies: Trade @ the Bears Levels Only.
NZDUSD
NZDUSD closed @ 7620 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 10 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bearish and the Price is Mildly Above the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Turning Down while 7670 holds and Daily Trend is Limited Up while 7380 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 mildly above the MA's ,the Price Closed unchanged. The Patterns are suggesting that the Bulls are showing signs of weakness. The Hourly time frame, the Price is mildly above the MA's and the Oscillators are suggesting a downside bias. The Patterns are suggesting the Bears may gain control soon. The 15min time frame, suggesting that the High may have been seen, 7645-70 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles suggests that the NZD is Weak against four crosses so the Bulls may be Sidelined until 7645-70 is regained.
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USDSGD
USDSGD closed @ 12615 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 20 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 12685 holds and Daily Trend is Limited Down while 12805 holds, so expect the price to be Choppy until Breakout. The Daily time frame ,the Price is below the MA's , the Price closed unchanged. The Patterns are suggesting the Price is trading at critical levels and in a Range trading . The Hourly time frame, the Price is within 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, 12670-85 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.