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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Wednesday, 08 June 2011 06:47
SPOT GOLD
SPOT GOLD closed @ 15440 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 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 Sideways while 15280 holds and Daily Trend is Limited Up while 14625 holds, so expect the price to be Choppy until Breakout. The Daily time frame, the Price is above the MA's and horizontal , the Price closed unchanged 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 bearish signals. The Patterns are suggesting a choppy session until the break . The 15min time frame, suggesting a choppy session until the break, 15375/15280 are the Critical levels to watch to maintain the Bullish Outlook.
BULLS: 15345 15285 15205 BEARS: 15460 15505 15560
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 8205 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was 10 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bearish and the Price is Mildly Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways while 8075 holds and Daily Trend is Sideways Up while 7760 holds, so expect the price to be Choppy until Breakout. The Daily time frame ,the Price is mildly above the MA's and pointing up ,the Bulls gained towards the Close. The Patterns are suggesting a range trading until the break . The Hourly time frame, the Price is mildly below the MA's and pointing horizontal , the Oscillators are suggesting a downside bias. The Patterns are suggesting a range trading until the break. The 15min time frame, suggesting lower lows are expected but may be limited , 8120/8075 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles suggesting that NZD is weak against Six crosses so the Bulls may have to be Sidelined and High-Low time does not gives us good signals.
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USDSGD
USDSGD closed @ 12270 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 1. The Hourly Oscillators are Bullish and the Price is Within the MA, so the Bears have to be Sidelined. Hourly Trend is Limited Down while 12355 holds and Daily Trend is Sideways Down while 12535 holds, so expect the price to have a Minimum Downside and the Bears have to be Cautious. The Daily time frame ,the Price is mildly below the MA's , the Bears gained towards the Close but was within a range. The Patterns are suggesting a range trading until the break . The Hourly time frame, the Price is within the MA's and horizontal, the Oscillators are suggesting an upside bias. The Patterns are suggesting a range trading until the break . The 15min time frame, suggesting a choppy session until the break , 12320-55 are the Critical levels to watch to maintain the Bearish 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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