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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Thursday, 21 October 2010 06:25
Spot Gold
SPOT GOLD closed @ 13445 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 5 (U Turn Zone) and the Low was PRECISELY at 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 13590 holds and Daily Trend is Sideways while 13050 holds, so expect the price to be Choppy with a potential to Break Lower. The Daily Trend was within the Prior Day's Range but the Bulls gained towards the Close which signifies a Choppy 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 a Choppy session until the break, 13500-590 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: 13325 13205 13155 BEARS: 13500 13590 13700
Today's Strategies: SHORT near 13500 13590 with a tight stop and 6-8 pts price targets.
NZDUSD
NZDUSD closed @ 7550 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 3 and the Low was 10 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 7600 holds and Daily Trend is Sideways while 7305 holds, so expect the price to be Choppy with a potential to Break Lower. The Daily Trend was within the Prior Day's Range but the Bulls gained towards the Close which signifies a Choppy session .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, 7570-7600 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles suggests that NZD is Weak against Five Crosses so the Bulls may have to be Sidelined until 7575-90 is regained .
BULLS & BEARS : Get the full report by visiting www.precisetrader.com for a Free Trial.
Today's Strategies: Get the full report by visiting www.precisetrader.com for a Free Trial.
USDSGD
USDSGD closed @ 13030 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 PRECISELY at Precise Trader's Sup Zone 5 (U Turn Zone). 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 Turning Up while 12960 holds and Daily Trend is Sideways while 13300 holds, so expect the price to Turn Up Soon, so the Bears may stay Sidelined and the Bulls get ready to pull the Trigger. The Daily Trend was within the Prior Day's Range but the Bears gained towards the Close which signifies a Choppy session. The MA is suggesting a Choppy session with an Upside Bias and the Oscillators are Bearish but Weak. The Hourly Trend has been in a Range Trading with no Price Target and the Patterns are suggesting Higher Highs are expected, 12995-60 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles are Mixed , so Cautious approach is needed until the Price breaks out of Zone 2 levels.
BULLS & BEARS : Get the full report by visiting www.precisetrader.com for a Free Trial.
Today's Strategies: Get the full report by visiting www.precisetrader.com for a Free Trial.