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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Wednesday, 25 May 2011 06:40
SPOT GOLD
SPOT GOLD closed @ 15265 which was ABOVE the open and breached the previous day's high. The High was 0.5 Dollars from Precise Trader's Res Tgt 2 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bearish and the Price is Mildly Above the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Turning Down while 15345 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 towards the Close. The Patterns are suggesting the Bulls are facing stiff resistance. The Hourly time frame, the Price is mildly above the MA's and the Oscillators are suggesting a downside bias. The Patterns are suggesting a choppy session until the break . The 15min time frame, suggesting a choppy session and the break but 15325 should be hard for the Bulls, 15205/15135 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles are suggesting mixed signals until the break.
BULLS: 15165 15085 15000 BEARS: 15285 15350 15410
Today's Strategies: SHORT near 15325 15355 with a tight stop and 6-8 pts price targets.
NZDUSD
NZDUSD closed @ 7960 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 5 (U Turn Zone) and the Low was PRECISELY at 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 Down while 8025 holds and Daily Trend is Turning Down while 8125 holds, so expect the price to make Lower Lows and the Bulls have to Sidelined. 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 a choppy session with a potential to break lower , 7985/8025 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles are suggesting that NZD is weak against four crosses and High-Low time gives us good signals so Cautious approach is needed.
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USDSGD
USDSGD closed @ 12475 which was BELOW 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 5 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bullish and the Price is Mildly Above the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Sideways Up while 12420 holds and Daily Trend is Turning Up while 12215 holds, so expect the price to be Choppy with a potential to Break Higher. 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 an upside bias. The Patterns are suggesting a range trading with a potential to break higher . The 15min time frame, suggesting the break of 12510-30 is needed for the Bulls, 12430-20 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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