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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Wednesday, 01 June 2011 05:38
SPOT GOLD
SPOT GOLD closed @ 15350 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 PRECISELY at Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bearish and the Price is Within the MA, so the Bulls have to be Sidelined. 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 Bears 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 within 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 that low may be limited, 15290-225 are the Critical levels to watch to maintain the Bullish Outlook.
BULLS: 15225 15155 15045 BEARS: 15385 15435 15525
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 8240 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Res Zone 5 (U Turn Zone) and the Low was 10 pips from Precise Trader's Hrly Level. The Hourly Oscillators are Bearish and the Price is Within the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways while 8145 holds and Daily Trend is Sideways Up while 7850 holds, so expect the price to be Choppy until Breakout. The Daily time frame ,the Price is above the MA's ,the Bulls gained towards the Close. The Patterns are suggesting higher highs are expected but approaching target . The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting a downside bias. The Patterns are suggesting a range trading until the break. The 15min time frame, suggesting that the downside may be limited , 8195-45 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 gives us good signals.
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USDSGD
USDSGD closed @ 12335 which was BELOW the open and was within prior day's trading range. The High was 15 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 1. The Hourly Oscillators are Turning Bearish and the Price is Mildly Below the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Limited Down while 12385 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 gained mildly towards the Close. The Patterns are suggesting lower lows are expected but may be limited . The Hourly time frame, the Price is mildly below the MA's and pointing down, the Oscillators are suggesting a 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, 12365-85 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles are suggesting that SGD is strong against two crosses so the Bears have to be Cautious and High-Low time does not give us good signals.
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