Friday, July 30, 2010

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


Forex Special

Spot Gold

SPOT GOLD  closed @ 11685 which was ABOVE the open and breached the previous day's high. The High was 1.5 Dollars from Precise Trader's Res Zone 1 and the Low was 0.5 Dollars from Precise Trader's Sup Tgt 1.   The Hourly Oscillators are MIXED and the Price is Below the MA, so CAUTIOUS  approach is needed. Hourly Trend is Limited Down while 11775 holds and Daily Trend is also Limited Down while 12085 holds, so expect the price to have a Minimum Downside and the Bears have to be Cautious.  The  Daily Trend was within the Prior Day's Range and the Bulls gained  mildly towards the Close . The  Hourly Trend has been in a Range Trading with a  Limited Downside  Bias,11735-775 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 Turn Up Soon. The Opening Price Principles are Mixed , so  Cautious approach is needed until the price breaks out of Zone 1 levels.

BULLS:   11580   11450   11360       BEARS:   11715   11805   11865


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

             

NZDUSD

NZDUSD closed @ 7240 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 10 pips from Precise Trader's Sup Tgt 2.   The Hourly Oscillators are Bearish but Weak and the Price is Below the MA, so CAUTIOUS  approach is needed for the Bears. Hourly Trend is Limited Down while 7295 holds and Daily Trend is Limited Up while 7105 holds, so expect the price to have a Minimum Downside and the Bears have to be Cautious.  The  Daily Trend breached the Prior Day's  Low and the Bears gave up mildly towards the Close . The  Hourly Trend  has been in a Range Trading with a Limited Downside Bias, 7280-95 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 a Choppy Session until there is a Clear Break . The Opening Price Principles  suggests that NZD is Weak against most Crosses but should be Limited so Cautious approach is needed.

BULLS:   7190   7135   7085       BEARS:   7265   7325   7365


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

             

USDSGD

USDSGD closed @ 13635 which was BELOW the open and was within prior day's trading range.  The High was 30 pips from Precise Trader's Res Zone 1 and the Low was 10 pips from Precise Trader's Sup Tgt 1.   The Hourly Oscillators are Bearish but Weak and the Price is Within the MA, so CAUTIOUS  approach is needed for the Bears. Hourly Trend is Limited Down while 13725 holds and Daily Trend is also Limited Down while 13805 holds, so expect the price to have a Minimum Downside and the Bears have to be Cautious.  The Daily Trend was within  the  Prior  Day's Range but the Bears gained towards the Close . The  Hourly Trend has been in a Range Trading with a Limited  Upside Bias, 13690-13725 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 until there is a Clear Break. The Opening Price Principles  are Mixed , so  Cautious approach is needed until the price breaks out of Zone 1 levels.

BULLS:   13590   13540   13480       BEARS:   13665   13705   13765

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