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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Thursday, 26 May 2011 06:12
SPOT GOLD
SPOT GOLD closed @ 15245 which was BELOW the open and was within prior day's trading range. The High was PRECISELY at 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 Mildly Above the MA, so CAUTIOUS approach is needed. Hourly Trend is Limited Up while 15175 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 above the MA's , the Bulls gained but gave up 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 mixed signals. The Patterns are suggesting a choppy session until the break . The 15min time frame, suggesting a choppy session and the Bulls may face a stiff resistance near 15400-425, 15185-135 are the Critical levels to watch to maintain the Bullish Outlook.
BULLS: 15175 15085 15000 BEARS: 15325 15400 15455
Today's Strategies: SHORT near 15400 15455 with a tight stop and 6-8 pts price targets.
NZDUSD
NZDUSD closed @ 7985 which was ABOVE the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Hrly Level and the Low was 25 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Limited Up while 7940 holds and Daily Trend is also Limited Up while 7635 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 but gave up mildly towards the Close but was within range trading. The Patterns are suggesting higher highs are expected . The Hourly time frame, the Price is above the MA's and the Oscillators are suggesting an upside bias. The Patterns are suggesting higher highs are expected but Cautious approach is needed. The 15min time frame, suggesting the downside may be limited to 8015/7985 , 7960-40 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles are suggesting that NZD is strong against all the crosses and High-Low time supports its view on five crosses, so the Bears may have to be Sidelined.
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USDSGD
USDSGD closed @ 12480 which was UNCHANGED from the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was 5 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 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 Bulls gained but gave up all their gains 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 but may be limited . The 15min time frame, suggesting a range trading until the break, 12515-30 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles are suggesting that SGD is strong against only two crosses so the Bears have to be Cautious and High-Low time does not give us good signals.
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