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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Wednesday, 29 June 2011 06:36
SPOT GOLD
SPOT GOLD closed @ 15015 which was ABOVE the open and was within prior day's trading range. The High was 3 Dollars from Precise Trader's Res Tgt 1 and the Low was 2 Dollars from Precise Trader's Sup Zone 1. The Hourly Oscillators are MIXED and the Price is Below the MA, so CAUTIOUS approach is needed. Hourly Trend is Limited Down while 15165 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 Bulls gained but gave up mildly towards the Close which signifies a range trading 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, 15075/15165 are the Critical levels to watch to maintain the Bearish Outlook.
BULLS: 14975 14915 14845 BEARS: 15065 15145 15215
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 8120 which was ABOVE the open and breached the previous day's high. The High was 10 pips from Precise Trader's Res Tgt 2 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish but Weak and the Price is Within the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways while 8215 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 Bulls gained 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 weak upside bias. The Patterns are suggesting a range trading until the break . The 15min time frame, suggesting a choppy session with a limited upside , 8165/8215 are the Critical levels to watch to maintain the Bearish Outlook. The High /Low for the Week may be limited to 8165-8215/7975-20 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 @ 12385 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 Bullish but Weak and the Price is Mildly Above the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways Up while 12295 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 Bears gained 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 mildly above the MA's and pointing horizontal, the Oscillators are suggesting a weak 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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