Monday, July 12, 2010

Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)


Forex Special

Spot Gold

SPOT GOLD  closed @ 12120 which was ABOVE the open and breached the previous day's high. The High was 0.5 Dollars from Precise Trader's Res Tgt 2 and the Low was 1 Dollars from Precise Trader's Sup Tgt 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 11985 holds and Daily Trend is Limited Down while 12445 holds, so expect the price to be Choppy until Breakout.  The  Daily Trend was within  the Prior  Few Day's  Range but the Bulls gained aggressively towards the Close . The  Hourly Trend has been in a Range Trading with a Limited Upside Bias,12070-11985 are the Critical  levels to watch to maintain the Bullish Outlook . On the 5 min is along the Horizontal Channel and the Patterns are suggesting a Choppy Session with a potential to break Higher but may be Limited. The Opening Price Principles are Mixed , so  Cautious approach is needed until the price breaks out of Zone 1 levels.

BULLS:   12015   11905   11855       BEARS:   12145   12250   12325


Today's Strategies:  Trade @ the Bulls & Bears Levels Only.  

             

NZDUSD

NZDUSD closed @ 7110 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was 5 pips from Precise Trader's Sup Zone 1.   The Hourly Oscillators are Bullish but Weak and the Price is Above the MA, so CAUTIOUS  approach is needed for the Bulls. Hourly Trend is Limited Up while 7025 holds and Daily Trend is Sideways Up while 6920 holds, so expect the price to have a Minimum Upside and the Bulls have to be Cautious.  The  Daily Trend breached the Prior Day's High marginally but the Bulls gave up mildly towards the Close . The  Hourly Trend  has been in a Range Trading with a Limited Upside Bias, 7055-05 are the Critical  levels to watch to maintain the Bullish Outlook . On the 5 min is along the Horizontal Channel and the Patterns are suggesting a Choppy Session  with a potential to turn Down near 7165-7210 levels . The Opening Price Principles are Mixed , so  Cautious approach is needed until the price breaks out of Zone 1 levels.

BULLS:   7045   7005   6955       BEARS:   7140   7200   7245


Today's Strategies:  SHORT near   7210   7245   with a tight stop with a 50 pips price target.  

    

USDSGD

USDSGD closed @ 13815 which was ABOVE 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 10 pips 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 Sideways Down while 13870 holds and Daily Trend is also Sideways Down while 13950 holds, so expect the price to be Choppy with a  potential to Break Lower.  The Daily Trend breached the  Prior Day's Low marginally but the Bulls gained towards the Close . The  Hourly Trend has been  with a Downside Bias, 13850-70 are the Critical  levels to watch to maintain the Bearish Outlook . On the 5 min is along the Horizontal Channel and the Patterns are suggesting Lower  Lows are expected  provided 13865  holds. The Opening Price Principles  are Mixed , so  Cautious approach is needed until the price breaks out of Zone 1 levels.

BULLS:   13775   13715   13650       BEARS:   13840   13895   13935


Today's Strategies:  SHORT near   13835   13865   with a tight stop with a 50 pips price target.

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