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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Tuesday, 24 May 2011 06:25
SPOT GOLD
SPOT GOLD closed @ 15170 which was ABOVE the open and breached the previous day's high. The High was 0.5 Dollars from Precise Trader's Res Tgt 1 and the Low was 1 Dollars from Precise Trader's Sup Tgt 1. The Hourly Oscillators are MIXED and the Price is Mildly Above the MA, so CAUTIOUS approach is needed. Hourly Trend is Limited Up while 15035 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 mildly above 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 a mixed signals. The Patterns are suggesting a choppy session until the break . The 15min time frame, suggesting a choppy session and the break of 15205 is needed for the Bulls to gain control, 15110-035 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles are suggesting mixed signals until the break.
BULLS: 15110 15070 15000 BEARS: 15205 15250 15330
Today's Strategies: LONG @ the Break 15205 with a tight stop and 6-8 pts price targets.
NZDUSD
NZDUSD closed @ 7905 which was BELOW 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 5 pips from Precise Trader's Sup Zone 5 (U Turn Zone). The Hourly Oscillators are MIXED and the Price is Mildly Above the MA, so CAUTIOUS approach is needed. Hourly Trend is Limited Up while 7850 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 Bears gave up 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 a limited upside bias. The Patterns are suggesting higher highs are expected but may be limited. The 15min time frame, suggesting the highs may be limited , 7865-50 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles are suggesting that NZD is strong against most of the crosses but may be limited so Cautious approach is needed and High-Low time gives us good signals but it is approaching stiff resistance.
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USDSGD
USDSGD closed @ 12490 which was ABOVE the open and breached the previous day's high. The High was 10 pips from Precise Trader's Res Zone 5 (U Turn Zone) and the Low was 15 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bearish and the Price is Above the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Turning Down while 12545 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 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 limited upside bias. The Patterns are suggesting a potential reversal soon . The 15min time frame, suggesting a limited upside bias, 12435-15 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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Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.