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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Friday, 06 May 2011 07:29
SPOT GOLD
SPOT GOLD closed @ 14735 which was BELOW the open and breached the previous day's low. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was 20 Dollars from Precise Trader's Sup Zone 10. The Hourly Oscillators are Bearish but Oversold and the Price is Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Turning Down while 15025 holds and Daily Trend is also Turning Down while 15765 holds, so expect the price to Turn Down Soon, so the Bulls may stay Sidelined and the Bears get ready to pull the Trigger. The Daily time frame, the Price is within the MA's , the Bears gained aggressively but gave up mildly towards the close. The Patterns are suggesting the Bears have gained control. 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 Wave 4 in progress. The 15min time frame, suggesting a choppy session with a limited upside and a Wave 4 in progress , 14925/15025 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles suggests that Bulls are strong but may be limited.
BULLS: 14785 14725 14600 BEARS: 14960 15025 15095
Today's Strategies: Trade @ the Bears Levels Only.
NZDUSD
NZDUSD closed @ 7840 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 5 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are Turning Bullish and the Price is Within the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Sideways Down while 7950 holds and Daily Trend is Turning Down while 8125 holds, so expect the price to be Choppy with a potential to Break Lower. The Daily time frame ,the Price is within the MA's ,the Bears gained aggressively but gave up mildly towards the Close. The Patterns are suggesting that the Bears are gaining control . The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting a limited downside bias. The Patterns are suggesting a choppy session until the break and Wave 3 in progress. The 15min time frame, suggesting a choppy session until the break , 7885/7950 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles suggests that NZD is strong against most of the Crosses but Cautious approach is needed and High-Low time does not give us good signals.
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USDSGD
USDSGD closed @ 12415 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Res Tgt 2 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bearish and the Price is Within the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Sideways Up while 12265 holds and Daily Trend is Turning Up while 12215 holds, so expect the price to be Choppy with a potential to Break Higher. The Daily time frame ,the Price is within the MA's , the Bulls gained aggressively towards the close. The Patterns are suggesting the Bulls are beginning to gain control . The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting a weak downside 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, 12350/12290 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles suggests that SGD is strong against most of the crosses but Cautious approach is needed and High-Low time does not give us good signals.
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