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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Wednesday, 18 May 2011 06:11
SPOT GOLD
SPOT GOLD closed @ 14865 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 PRECISELY at Precise Trader's Sup Zone 1. 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 Sideways while 15165 holds and Daily Trend is Turning Down while 15765 holds, so expect the price to be Choppy until Breakout. The Daily time frame, the Price is within the MA's , the Bears gave up mildly towards the close. The Patterns are suggesting a Range Trading until the break. 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 choppy session until the break . The 15min time frame, suggesting that the highs may be limited, 15015-165 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles are suggesting strength but may be limited.
BULLS: 14825 14715 14625 BEARS: 15025 15165 15225
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 7845 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Zone 1. 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 Limited Up while 7755 holds and Daily Trend is Turning Down while 8125 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 a Range trading until the break . The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting a weak upside bias. The Patterns are suggesting higher highs are expected but may be limited. The 15min time frame, suggesting that the upside may be limited , 7805/7755 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles suggests that NZD is Strong against Five Crosses but Cautious approach is needed and High-Low time are giving us mixed signals.
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USDSGD
USDSGD closed @ 12455 which was BELOW the open and was within prior day's trading range. The High was PRECISELY at 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 Mildly Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Limited Down while 12510 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 gained towards the Close. The Patterns are suggesting that we may see a pullback lower . The Hourly time frame, the Price is mildly below the MA's and the Oscillators are suggesting a downside bias. The Patterns are suggesting lower lows are expected but may be limited . The 15min time frame, suggesting that the downside may be limited, 12490/12510 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles suggesting that SGD is strong against Three Crosses but Cautious approach is needed and High-Low time does not give us good signals.
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