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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Thursday, 28 April 2011 06:00
SPOT GOLD
SPOT GOLD closed @ 15265 which was ABOVE the open and breached the previous day's high. The High was 3.5 Dollars from Precise Trader's Res Tgt 3 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Limited Up while 15100 holds and Daily Trend is Sideways Up while 14775 holds, so expect the price to have a Minimum Upside and the Bulls have to be Cautious. The Daily time frame, the Price is well above the MA's , the Bulls gained aggressively towards the close. The Patterns are suggesting the Bulls are approaching the price target. The Hourly time frame, the Price is above the MA's and the Oscillators are suggesting an upside bias. The Patterns are suggesting a range trading until the break but the Upside may be limited. The 15min time frame, suggesting a choppy session until the break , 15205/15100 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: 15180 15085 14975 BEARS: 15305 15435 15500
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 8080 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Res Tgt 1 and the Low was 10 pips from 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 8000 holds and Daily Trend is Limited Up while 7895 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 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 mixed signals. The Patterns are suggesting a choppy session until the break. The 15min time frame, suggesting a choppy session until the break, 8040-00 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 @ 12295 which was BELOW the open and breached the previous day's low. The High was 5 pips from 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 Sideways Down while 12305 holds and Daily Trend is Limited Down while 12385 holds, so expect the price to be Choppy with a potential to Break Lower. The Daily time frame ,the Price is below the MA's , the Bears gained towards the close. The Patterns are suggesting the Bears are still in control. The Hourly time frame, the Price is well below the MA's and the Oscillators are suggesting a downside bias. The Patterns are suggesting lower lows are expected but cautious approach is needed. The 15min time frame, suggesting lower lows are expected but may be limited, 12305-45 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles are suggesting that SGD is strong against two crosses so the Bears may have to be cautious.
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