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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Thursday, 21 April 2011 06:55
SPOT GOLD
SPOT GOLD closed @ 15015 which was ABOVE the open and breached the previous day's high. The High was 1 Dollars from 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 14950 holds and Daily Trend is Sideways Up while 14795 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 gave up mildly 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 , 14955-920 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: 14985 14885 14805 BEARS: 15085 15185 15285
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 7975 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 10 pips from 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 Sideways while 7930 holds and Daily Trend is Limited Up while 7750 holds, so expect the price to be Choppy until Breakout. The Daily time frame ,the Price is well 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 above the MA's and the Oscillators are suggesting a limited upside bias. The Patterns are suggesting higher highs are expected but cautious approach is needed. The 15min time frame, suggesting a choppy session until the break, 7935-15 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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USDSGD
USDSGD closed @ 12380 which was BELOW the open and breached the previous day's low. The High was 25 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 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 12560 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 no 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 we may see a pullback higher soon, 12435-60 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.