Monday, July 19, 2010

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


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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