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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Tuesday, 19 April 2011 05:46
SPOT GOLD
SPOT GOLD closed @ 14945 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 0.5 Dollars from Precise Trader's Hrly Level. The Hourly Oscillators are Turning Bearish and the Price is Mildly Above the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Limited Up while 14815 holds and Daily Trend is Sideways Up while 14605 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 , the Bulls gained towards the close. The Patterns are suggesting the Bulls are approaching the Price target. 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 until the break. The 15min time frame, suggesting a choppy session with a limited upside , 14885-815 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: 14805 14718 14645 BEARS: 14975 15065 15145
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 7910 which was BELOW the open and breached the previous day's low. The High was 10 pips from Precise Trader's Res Zone 1 and the Low was 10 pips from Precise Trader's Sup Tgt 3. The Hourly Oscillators are Bearish and the Price is Within the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 7930 holds and Daily Trend is Limited Up while 7575 holds, so expect the price to be Choppy with a potential to Break Lower. The Daily time frame ,the Price is well above the MA's ,the Bears gained aggressively but gave up mildly towards the Close. The Patterns are suggesting that the Bulls are showing signs of weakness. The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting a downside bias. The Patterns are suggesting a range trading with a potential to break lower. The 15min time frame, suggesting the break of 7835 is needed for the Beasr to gain control , 7900-35 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles are suggesting that NZD is Weak against most of the Crosses so the Bulls may have to be Sidelined.
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USDSGD
USDSGD closed @ 12470 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Hrly Level and the Low was 15 pips from Precise Trader's Sup Zone 1. 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 12435 holds and Daily Trend is Limited Down while 12725 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 Bulls gained mildly towards the close. The Patterns are suggesting the Bears are showing signs of Weakness . The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting an upside bias. The Patterns are suggesting that higher highs are expected. The 15min time frame, suggesting that the break of 12505-25 is needed for the Bulls to gain control, 12435-15 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.