Forex Special
Spot Gold
SPOT GOLD closed @ 11930 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 PRECISELY at Precise Trader's Sup Tgt 3. The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 12065 holds and Daily Trend is also Sideways Down while 12262 holds, so expect the price to be Choppy with a potential to Break Lower. The Daily Trend was within the Prior Few Day's Range but the Bears gained aggressively before giving up mildly towards the Close . The Hourly Trend has been in a Range Trading with a Downside Bias but the Bears need to crack the 11850 level for further gains,12015-12110 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 a Choppy Session with a potential to make Lower lows provided 12005-120065 holds. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 11825 11735 11585 BEARS: 11985 12025 12105
Today's Strategies: SHORT near 11985 12025 with a tight stop and 6-8 pts price targets.
NZDUSD
NZDUSD closed @ 7105 which was BELOW the open and breached the previous day's low. The High was 15 pips from Precise Trader's Res Zone 1 and the Low was 15 pips from Precise Trader's Dly Level. The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Limited Down while 7160 holds and Daily Trend is Sideways Up while 6925 holds, so expect the price to have a Minimum Downside and the Bears have to be Cautious. The Daily Trend Plunged below the Prior Day's Open and the Bears were holding their gains till the Close . The Hourly Trend has been marching Lower and expect it to continue while 7130 holds, 7145-7210 are the Critical levels to watch to maintain the Bearish Outlook . On the 5 min is along the Steep Down Channel and the Patterns are suggesting Lower lows are expected but may be Limited . The Opening Price Principles suggests that NZD is Weak against Five Crosses but may be limited so the Bears have to be Cautious.
BULLS: 7010 6950 6905 BEARS: 7125 7165 7210
Today's Strategies: SHORT near 7125 7165 with a tight stop with a 50 pips price target.
USDSGD
USDSGD closed @ 13770 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was 20 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 13715 holds and Daily Trend is Sideways Down while 13915 holds, so expect the price to be Choppy with a potential to Break Higher. The Daily Trend was within the Prior Day's Range but the Bulls gained mildly towards the Close . The Hourly Trend has been in a Range Trading with a Limited Downside Bias, 13765-15 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 until the break. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 13765 13715 13665 BEARS: 13855 13925 14000
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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