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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Tuesday, 28 June 2011 06:12
SPOT GOLD
SPOT GOLD closed @ 14965 which was BELOW the open and breached the previous day's low. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was 1 Dollars from Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bearish but Oversold and the Price is Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Limited Down while 15115 holds and Daily Trend is Turning Down while 15590 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 and pointing horizontal, the Bears gained but gave up mildly towards the Close which signifies some strength in the initial stage of the day. The Patterns are suggesting the downside may be limited . The Hourly time frame, the Price is below the MA's and pointing down, the Oscillators are suggesting a limited downside bias. The Patterns are suggesting a range trading until the break .The High /Low for the Week may be limited to 15115-15245/14815-14745 levels. The 15min time frame, suggesting a choppy session until the break, 15025-115 are the Critical levels to watch to maintain the Bearish Outlook.
BULLS: 14895 14825 14755 BEARS: 15035 15115 15175
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 8055 which was BELOW the open and breached the previous day's low. The High was 30 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Zone 5 (U Turn Zone). The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways while 8145 holds and Daily Trend is Turning Down while 8305 holds, so expect the price to be Choppy until Breakout. The Daily time frame ,the Price is within the MA's and pointing horizontal, the Bears gained but gave up mildly towards the Close which signifies a choppy session during the initial stage of the day. The Patterns are suggesting a range trading until the break . The Hourly time frame, the Price is within 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 a choppy session with a limited downside , 8095/8145 are the Critical levels to watch to maintain the Bearish Outlook. The High /Low for the Week may be limited to 8115-65/7975-20 levels. 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 @ 12420 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Res Tgt 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 Sideways Up while 12330 holds and Daily Trend is Sideways while 12265 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 Bulls gained but gave up mildly towards the Close but was within a range which signifies a choppy session during the initial stage of the day. The Patterns are suggesting a range trading until the break . The Hourly time frame, the Price is above the MA's and pointing up, 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 but the downside may be limited , 12365-30 are the Critical levels to watch to maintain the Bullish Outlook. The High/Low for the Week may be limited to 12500-35/12335-12265 levels. 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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