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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Friday, 20 May 2011 06:50
SPOT GOLD
SPOT GOLD closed @ 14935 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 1 Dollars from Precise Trader's Sup Tgt 2. The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 15085 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 gained 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 mixed bias. The Patterns are suggesting a choppy session until the break . The 15min time frame, suggesting a choppy session until the break, 14995/15085 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles are suggesting mixed signals until the break.
BULLS: 14905 14845 14785 BEARS: 15005 15105 15165
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 7910 which was ABOVE the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 7820 holds and Daily Trend is Turning Down while 8125 holds, so expect the price to be Choppy until Breakout. The Daily time frame ,the Price is within the MA's ,the Bulls gained 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 mixed bias. The Patterns are suggesting a Range trading until the break. The 15min time frame, suggesting a choppy session until the break , 7870-20 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 good signals.
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USDSGD
USDSGD closed @ 12370 which was BELOW the open and breached the previous day's low. The High was 10 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bearish but Weak and the Price is Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Limited Down while 12425 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 believe that the Downside may be limited . The Hourly time frame, the Price is below the MA's and the Oscillators are suggesting a weak 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, 12425-35 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.