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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Tuesday, 31 May 2011 06:20
SPOT GOLD
SPOT GOLD closed @ 15380 which was ABOVE 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 Zone 1. The Hourly Oscillators are Bullish but Weak and the Price is Mildly Above the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Turning Down while 15535 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 above the MA's , the Bulls gained mildly towards the Close. The Patterns are suggesting a range trading until the break but the upside may be limited. The Hourly time frame, the Price is mildly 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 until the break, 15325-15225 are the Critical levels to watch to maintain the Bullish Outlook.
BULLS: 15305 15225 15135 BEARS: 15430 15535 15585
Today's Strategies: SHORT near 15535 15585 with a tight stop and 6-8 pts price targets.
NZDUSD
NZDUSD closed @ 8165 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 5 pips from 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 Limited Up while 8145 holds and Daily Trend is Sideways Up while 7850 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 Bears gained mildly towards the Close but was within range trading. The Patterns are suggesting higher highs are expected but approaching target . 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 , 8145-20 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 all the crosses, so the Bears may have to be Sidelined.
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USDSGD
USDSGD closed @ 12355 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 PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bearish but Oversold and the Price is Mildly Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Limited Down while 12415 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 below the MA's , the Bears gave up mildly towards the Close. The Patterns are suggesting lower lows are expected but may be limited . The Hourly time frame, the Price is below the MA's and the Oscillators are suggesting a limited downside bias. The Patterns are suggesting lower lows are expected but may be limited . The 15min time frame, suggesting lower lows but we may see a pullback soon, 12410-15 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles are suggesting that SGD is week against three crosses so the Bears have to be Cautious and High-Low time does not give us good signals.
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