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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Tuesday, 12 July 2011 06:08
SPOT GOLD
SPOT GOLD closed @ 15540 which was ABOVE the open and breached the previous day's high. The High was 1 Dollars from Precise Trader's Res Zone 5 (U Turn Zone) and the Low was 0.5 Dollars 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 while 15345 holds and Daily Trend is Sideways Up while 14785 holds, so expect the price to be Choppy until Breakout. The Daily time frame, the Price is above the MA's and pointing up, the Bulls gained towards the Close which signifies some more strength but the Price is trading at critical levels. 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 High /Low for the Week may be limited to 15580-15715/15240-15140 levels. The 15min time frame, suggesting that the high may have been seen, 15480-15345 are the Critical levels to watch to maintain the Bullish Outlook.
BULLS: 15415 15340 15245 BEARS: 15575 15645 15715
Today's Strategies: SHORT near 15575 15615 with a tight stop and 5-8 pts price targets.
NZDUSD
NZDUSD closed @ 8290 which was BELOW the open and was within prior day's trading range. The High was 20 pips from Precise Trader's Res Zone 1 and the Low was 10 pips from Precise Trader's Sup Zone 5 (U Turn Zone). The Hourly Oscillators are Bearish and the Price is Mildly Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 8335 holds and Daily Trend is Sideways while 8100 holds, so expect the price to be Choppy with a potential to Break Lower. The Daily time frame ,the Price is within the MA's and pointing horizontal, the Bears gained towards the Close which signifies some more weakness. The Patterns are suggesting lower lows are expected. 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 lower lows are expected but cautious approach is needed. The 15min time frame, suggesting a choppy session until the break , 8315-35 are the Critical levels to watch to maintain the Bearish Outlook. The High /Low for the Week may be limited to 8305-75/8125-8000 levels. The Opening Price Principles are suggesting that NZD is weak against all the Crosses so the Bulls may have to be sidelined and High-Low time supports that view.
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USDSGD
USDSGD closed @ 12270 which was ABOVE the open and breached the previous day's high. The High was 20 pips from Precise Trader's Res Tgt 2 and the Low was 25 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 Sideways Up while 12185 holds and Daily Trend is Sideways Down while 12385 holds, so expect the price to be Choppy with a potential to Break Higher. The Daily time frame ,the Price is below the MA's , the Bulls gained towards the Close which signifies some more strength. 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 an upside bias. The Patterns are suggesting a range trading until the break. The 15min time frame, suggesting the break of 12305 is needed for the Bulls , 1220/12185 are the Critical levels to watch to maintain the Bullish Outlook. The High/Low for the Week may be limited to 12350-12460/12205-12175 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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