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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Wednesday, 11 May 2011 05:41
SPOT GOLD
SPOT GOLD closed @ 15150 which was ABOVE the open and breached the previous day's high. The High was 1 Dollars from Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 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 Down while 15325 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 mildly above the MA's , the Bulls gained mildly towards the close. The Patterns are suggesting the Bears have gained control. 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 limited upside and Wave 4 in progress. The 15min time frame, suggesting a choppy session until the break, 15090-065 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles are suggesting strength but may be limited.
BULLS: 15175 15105 15050 BEARS: 15305 15365 15425
Today's Strategies: Trade @ the Bears Levels Only.
NZDUSD
NZDUSD closed @ 7950 which was UNCHANGED from the open and was within prior day's trading range. The High was 10 pips from Precise Trader's Res Zone 1 and the Low was 20 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bullish but Weak and the Price is Within the MA, so CAUTIOUS approach is needed for the Bulls. 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 Bears gave up all their gains 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 weak 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 , 7990/8060 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 @ 12315 which was UNCHANGED from the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was 25 pips from Precise Trader's Sup Zone 1. 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 12375 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 mildly below the MA's , the Price closed unchanged. 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, 12365-75 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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Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.