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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Tuesday, 19 October 2010 06:36
Spot Gold
SPOT GOLD closed @ 13705 which was UNCHANGED from 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 0.5 Dollars from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish but Weak and the Price is Within the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways Down while 13805 holds and Daily Trend is Sideways while 13245 holds, so expect the price to be Choppy with a potential to Break Lower. The Daily Trend breached the Prior Day's Low but the Bears gave all their gains towards the Close which signifies some Strength during Asian Session. The MA is suggesting a Choppy session with a Downside Bias and the Oscillators are Bullish but Weak . The Hourly Trend has been in a Range Trading with no Price Target and the Patterns are suggesting Lower Lows are expected, 13760-13805 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.
BULLS: 13605 13560 13475 BEARS: 13735 13805 13875
Today's Strategies: SHORT near 13735 13760 with a tight stop and 6-8 pts price targets.
NZDUSD
NZDUSD closed @ 7555 which was UNCHANGED from the open and was within prior day's trading range. The High was 10 pips from Precise Trader's Res Zone 1 and the Low was 30 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish but Weak and the Price is Within the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways Down while 7625 holds and Daily Trend is Sideways 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 Price Closed Unchanged towards the Close which signifies a Choppy session with some Weakness .The MA is suggesting a Downside Bias and the Oscillators are Bullish but Weak. The Hourly Trend has been in a Range Trading with no Price Target and the Patterns are suggesting Lower Lows are expected, 7595-7625 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 @ 12985 which was ABOVE the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Tgt 1 and the Low was 10 pips from Precise Trader's Hrly Level. 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 12925 holds and Daily Trend is Sideways while 13200 holds, so expect the price to be Choppy with a potential to Break Higher. The Daily Trend was within the Prior two Day's Range but the Bulls gave up most of their gains towards the Close which signifies a Choppy session. The MA is suggesting an Upside Bias and the Oscillators are Bullish. The Hourly Trend has been Creeping Higher with 13075/13140-85 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 Three 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.