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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Thursday, 14 April 2011 06:19
SPOT GOLD
SPOT GOLD closed @ 14580 which was ABOVE the open and was within prior day's trading range. The High was 1.5 Dollars from Precise Trader's Res Tgt 1 and the Low was PRECISELY at 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 14670 holds and Daily Trend is Limited Up while 14265 holds, so expect the price to be Choppy until Breakout. The Daily time frame, the Price is above the MA's , 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 within 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 , 14635-670 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: 14510 14450 14400 BEARS: 14625 14695 14765
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 7895 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Res Zone 5 (U Turn Zone) and the Low was 15 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 7820 holds and Daily Trend is Limited Up while 7665 holds, so expect the price to be Choppy until Breakout. The Daily time frame ,the Price is well above the MA's ,the Bulls gained and gave up mildly towards the Close. The Patterns are suggesting that the Bulls are approaching stiff resistance. The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting a mixed signals. The Patterns are suggesting a range trading until the break. The 15min time frame, suggesting a choppy session until the break, 7855-20 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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USDSGD
USDSGD closed @ 12565 which was UNCHANGED from 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 15 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Limited Down while 12585 holds and Daily Trend is Sideways while 12685 holds, so expect the price to have a Minimum Downside and the Bears have to be Cautious. The Daily time frame ,the Price is below the MA's , the Price closed unchanged towards the close. The Patterns are suggesting the Bears are giving a final push before they surrender . The Hourly time frame, the Price is below the MA's and the Oscillators are suggesting a downside bias. The Patterns are suggesting that the bears may surrender soon. The 15min time frame, suggesting a choppy session until the break, 12570/12620 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles are suggesting that SGD is strong against most of the Crosses but Cautious approach is needed as it is trading at critical levels.
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