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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Monday, 18 October 2010 06:46
Spot Gold
SPOT GOLD closed @ 13685 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 2.5 Dollars from Precise Trader's Sup Tgt 3. The Hourly Oscillators are Bearish and the Price is Within the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 13775 holds and Daily Trend is Sideways Up while 13252 holds, so expect the price to be Choppy with a potential to Break Lower. The Daily Trend was within the Prior two Day's Range but the Bears gained aggressively towards the Close which signifies Weakness. The MA is suggesting a Choppy session with a Downside Bias and the Oscillators are Bearish . The Hourly Trend has been in a Range Trading with no Price Target and the Patterns are suggesting Lower Lows are expected, 13740-13775 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles suggests that the Bears are very Strong so the Bulls may have to be Sidelined until 13720-740 is regained.
BULLS: 13540 13500 13400 BEARS: 13675 13715 13775
Today's Strategies: SHORT near 13675 13715 with a tight stop and 6-8 pts price targets.
NZDUSD
NZDUSD closed @ 7560 which was BELOW 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 20 pips from Precise Trader's Sup Tgt 1. 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 7625 holds and Daily Trend is Sideways Up while 7415 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 and the Bears gained towards the Close which signifies a Choppy session with some Weakness .The MA is suggesting a Downside Bias and the Oscillators are Bearish. The Hourly Trend has been in a Range Trading with no Price Target and the Patterns are suggesting Lower Lows are expected, 7585-7625 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles are Mixed , so Cautious approach is needed until the Price breaks out of Zone 2 levels.
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USDSGD
USDSGD closed @ 12960 which was UNCHANGED from 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 15 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish and the Price is Within the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways Up while 12950 holds and Daily Trend is Sideways Down while 13200 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 which signifies some Strength. The MA is suggesting an Upside Bias and the Oscillators are Bullish. The Hourly Trend has been Creeping Higher with 13075/1340-85 as Price Targets and the Patterns are suggesting Higher Highs are expected, 12950-05 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles are suggesting that SGD is Weak against Four Crosses so the Bears may have to be Sidelined until 12950-05 is regained.
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Today's Strategies: Get the full report by visiting www.precisetrader.com for a Free Trial.