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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Thursday, 05 May 2011 06:08
SPOT GOLD
SPOT GOLD closed @ 15175 which was BELOW the open and breached the previous day's low. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was 2.5 Dollars from Precise Trader's Sup Zone 10. 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 15400 holds and Daily Trend is Limited Up while 14890 holds, so expect the price to have a Minimum Downside and the Bears have to be Cautious. The Daily time frame, the Price is approaching the MA's , the Bears gained but gave up mildly towards the close. The Patterns are suggesting the Bulls are showing signs of weakness but not yet given up. The Hourly time frame, the Price is below the MA's and the Oscillators are suggesting a downside bias. The Patterns are suggesting a choppy session until the break and Wave 4 may complete soon. The 15min time frame, suggesting a choppy session with a limited downside and a Corrective Wave in progress , 15235/15400 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: 15115 15065 14985 BEARS: 15275 15385 15445
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 7895 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 5 pips from Precise Trader's Sup Zone 5 (U Turn Zone). The Hourly Oscillators are Bearish but Weak and the Price is Mildly Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Limited Down while 8010 holds and Daily Trend is Limited Up while 7735 holds, so expect the price to have a Minimum Downside and the Bears have to be Cautious. The Daily time frame ,the Price is approaching the MA's ,the Bears gained aggressively but gave up mildly towards the Close. The Patterns are suggesting that the Bears may weaken soon. The Hourly time frame, the Price is below the MA's and the Oscillators are suggesting a limited downside bias. The Patterns are suggesting a choppy session until the break and Corrective Wave in progress. The 15min time frame, suggesting a choppy session until the break , 7935/8010 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 and High-Low time does not give us a clear clue.
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USDSGD
USDSGD closed @ 12320 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was 5 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 Turning Up while 12215 holds and Daily Trend is Limited Down while 12540 holds, so expect the price to Turn Up Soon, so the Bears may stay Sidelined and the Bulls get ready to pull the Trigger. The Daily time frame ,the Price is below the MA's , the Bulls gained towards the close. The Patterns are suggesting the Bulls are beginning to gain control . The Hourly time frame, the Price is mildly above the MA's and the Oscillators are suggesting a weak upside bias. The Patterns are suggesting a choppy session until the break . The 15min time frame, suggesting a choppy session until the break and the downside may be limited, 12270-15 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 and High-Low time does not give us a clear clue.
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Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.