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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Monday, 09 May 2011 05:55
SPOT GOLD
SPOT GOLD closed @ 14945 which was ABOVE the open and was within prior day's trading range. The High was 5 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 and the Price is Within the MA, so the Bears have to be Sidelined. Hourly Trend is Limited Up while 14855 holds and Daily Trend is Turning Down while 15765 holds, so expect the price to have a Minimum Upside and the Bulls have to be Cautious. The Daily time frame, the Price is within the MA's , the Bulls gained towards the close. The Patterns are suggesting the Bears have gained control. The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting a limited upside bias. The Patterns are suggesting a limited upside and Wave 4 in progress. The 15min time frame, suggesting a choppy session with a limited upside, 14885-855 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles suggests that Bulls are strong but may be limited.
BULLS: 14925 14855 14765 BEARS: 15085 15145 15225
Today's Strategies: Trade @ the Bears Levels Only.
NZDUSD
NZDUSD closed @ 7905 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 3 and the Low was 15 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish and the Price is Within the MA, so the Bears have to be Sidelined. Hourly Trend is Turning Down while 8060 holds and Daily Trend is also Turning Down while 8125 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 Bulls gained aggressively but gave up partially 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 an upside bias. The Patterns are suggesting a choppy session until the break and Wave 4 in progress. The 15min time frame, suggesting a choppy session until the break , 8015-60 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 and High-Low time does not give us good signals.
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USDSGD
USDSGD closed @ 12395 which was BELOW the open and was within prior day's trading range. The High was 30 pips from Precise Trader's Res Zone 1 and the Low was 5 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bearish and the Price is Within the MA, so the Bulls have to be Sidelined. Hourly Trend is Limited Down while 12395 holds and Daily Trend is Turning Up while 12215 holds, so expect the price to have a Minimum Downside and the Bears have to be Cautious. The Daily time frame ,the Price is within the MA's , the Bears gave up partially 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 downside bias. The Patterns are suggesting a choppy session with a limited downside . The 15min time frame, suggesting a choppy session until the break and the downside may be limited, 12395/12430 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles suggests that SGD is strong against five crosses but Cautious approach is needed and High-Low time does not give us good signals.
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