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.
