Spot Gold
SPOT GOLD closed @ 12010 which was ABOVE the open and breached the previous day's high. The High was 0.5 Dollars from Precise Trader's Res Zone 5 (U Turn Zone) and the Low was PRECISELY at 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 Corrective Up while 11875 holds and Daily Trend is Turning Up while 11625 holds, so expect the price to have a Limited Upside and the Bulls have to be Cautious. The Daily Trend breached the Prior Day's High and the Bulls gave up mildly towards the Close . The Hourly Trend has been in a Range Trading with the Upside Limited, 11960-11875 are the Critical levels to watch to maintain the Bullish Outlook . On the 5 min is along the gradual Up Channel and the Patterns are suggesting a Choppy session with a potential to Turn Down Soon. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 12000 11925 11845 BEARS: 12085 12165 12245
Today's Strategies: Trade @ the Bulls Levels Only.
NZDUSD
NZDUSD closed @ 6705 which was ABOVE the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was 15 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are MIXED and the Price is Below the MA, so CAUTIOUS approach is needed. Hourly Trend is Turning Down while 6770 holds and Daily Trend is Corrective Down while 6905 holds, so expect the price to Turn Down Soon, so the Bulls may stay Sidelined and the Bears get ready to pull the Trigger. The Daily Trend breached the Prior Day's Low but the Bears gave up aggressively towards the Close . The Hourly Trend has been Creeping Lower and expect it to continue , 6730-70 are the Critical levels to watch to maintain the Bearish Outlook . On the 5 min is along the gradual Down Channel and the Patterns are suggesting Lower Lows are expected provided 6730 holds . The Opening Price Principles suggests that NZD is Weak against Five Crosses , so the Bulls may have to be Sidelined until it cracks the 6730-70 mark.
BULLS: 6625 6575 6525 BEARS: 6685 6715 6800
Today's Strategies: SHORT near 6685 6715 with a tight stop with a 50 pips price target.
USDSGD
USDSGD closed @ 14130 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Res Zone 5 (U Turn Zone) and the Low was 15 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bearish and the Price is Above the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Sideways Down while 14225 holds and Daily Trend is Corrective Up while 13960 holds, so expect the price to be Choppy with a potential to Break Lower. The Daily Trend breached the Prior Day's High but the Bulls gave up most of their gains towards the Close . The Hourly Trend has been in a Range Trading with the Downside Limited, 14165-14225 are the Critical levels to watch to maintain the Bearish Outlook . On the 5 min is along the gradual Up 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.
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