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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Wednesday, 20 April 2011 06:51
SPOT GOLD
SPOT GOLD closed @ 14955 which was UNCHANGED from the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 1 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 Limited Up while 14835 holds and Daily Trend is Sideways Up while 14675 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 Price closed unchanged. 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 , 14895-835 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: 14875 14805 14715 BEARS: 15015 15135 15245
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 7890 which was BELOW the open and was within prior day's trading range. The High was 20 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways Up while 7865 holds and Daily Trend is Limited Up while 7575 holds, so expect the price to be Choppy with a potential to Break Higher. The Daily time frame ,the Price is well above the MA's ,the Bears gave up most of their gains towards the Close. The Patterns are suggesting that the Bulls are showing signs of weakness. 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 cautious approach is needed. The 15min time frame, suggesting higher highs are expected but cautious approach is needed , 7865-50 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles are suggesting that NZD is strong against most of the Crosses so the Bears may have to be Sidelined.
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USDSGD
USDSGD closed @ 12435 which was BELOW 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 PRECISELY at 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 12460 holds and Daily Trend is also Limited Down while 12725 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 Bears gained towards the close. The Patterns are suggesting the Bears are showing signs of Weakness . The Hourly time frame, the Price is below the MA's and the Oscillators are suggesting a limited downside bias. The Patterns are suggesting that lower lows are expected but may be limited. The 15min time frame, suggesting that lower lows are expected, 12460-90 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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