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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Monday, 23 May 2011 06:07
SPOT GOLD
SPOT GOLD closed @ 15120 which was ABOVE the open and breached the previous day's high. The High was 2 Dollars from Precise Trader's Res Tgt 3 and the Low was PRECISELY at Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bullish but Weak and the Price is Above the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Limited Up while 14975 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 aggressively towards the Close. The Patterns are suggesting a Range Trading until the break. The Hourly time frame, the Price is above the MA's and the Oscillators are suggesting a weak upside bias. The Patterns are suggesting a choppy session until the break . The 15min time frame, suggesting a choppy session with a limited upside bias, 15060/14975 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles are suggesting mixed signals until the break.
BULLS: 15045 14975 14925 BEARS: 15185 15235 15285
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NZDUSD
NZDUSD closed @ 7960 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Tgt 2 and the Low was 15 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 Sideways Down while 7985 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 Bulls gained but 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 downside bias. The Patterns are suggesting lower lows are expected. The 15min time frame, suggesting lower lows are expected but we may see a pullback soon , 7935-85 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles are suggesting that NZD is Weak against six crosses so the Bulls may have to be Sidelined until 7935-85 is regained and High-Low time does not give us good signals.
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USDSGD
USDSGD closed @ 12380 which was UNCHANGED from 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 and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Turning Down while 12520 holds and Daily Trend is Turning Up while 12215 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 mildly towards the Close. The Patterns are suggesting a Range trading until the break . The Hourly time frame, the Price is mildly above the MA's and the Oscillators are suggesting an upside bias. The Patterns are suggesting higher highs are expected but may be limited . The 15min time frame, suggesting an upside bias but be weary of some correction, 12360-30 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles are suggesting that is weak against two crosses only so the Bulls may have to be Cautious and High-Low time does not give us good signals.
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