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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Tuesday, 26 October 2010 06:28
SPOT GOLD
SPOT GOLD closed @ 13400 which was ABOVE the open and breached the previous day's high. The High was 2 Dollars from Precise Trader's Res Tgt 2 and the Low was 1 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 while 13505 holds and Daily Trend is Turning Down while 13875 holds, so expect the price to be Choppy until Breakout. The Daily Trend was within the Prior two Day's Range but the Bulls gained and gave up mildly 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, 13455/505 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: 13285 13175 13055 BEARS: 13485 13590 13700
Today's Strategies: SHORT near 13485 13590 with a tight stop and 6-8 pts price targets.
NZDUSD
NZDUSD closed @ 7520 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 MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 7575 holds and Daily Trend is also Sideways while 7365 holds, so expect the price to be Choppy until Breakout. The Daily Trend was within the Prior few Day's Range but the Bulls gained and gave up partially towards the Close which signifies a Choppy session .The MA is suggesting a Choppy session and the Oscillators are Mixed. The Hourly Trend has been in a Range Trading with no Price Target and the Patterns are suggesting a Choppy session until the break, 7560-75 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 @ 12930 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 5 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are Turning Bullish and the Price is Below the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Sideways while 13005 holds and Daily Trend is Sideways Down while 13165 holds, so expect the price to be Choppy until Breakout. The Daily Trend was within the Prior few Day's Range and the Bears gained but gave up mildly towards the Close which signifies a Choppy session. The MA is suggesting a Choppy session with and the Oscillators are Turning Bullish. The Hourly Trend has been in a Range Trading with no Price Target and the Patterns are suggesting a Choppy session until the Break, 12985-13005 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 & 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.