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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Wednesday, 27 October 2010 06:45
SPOT GOLD
SPOT GOLD closed @ 13405 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 1.5 Dollars from Precise Trader's Sup Zone 5 (U Turn Zone). The Hourly Oscillators are Turning Bearish and the Price is Within the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Sideways Down while 13495 holds and Daily Trend is Turning Down while 13875 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 and the Price Closed Unchanged towards the Close which signifies a Choppy session. The MA is suggesting a Downside Bias and the Oscillators are Turning Bearish. The Hourly Trend has been in a Range Trading with no Price Target and the Patterns are suggesting Lower Lows are expected, 13455/495 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: 13315 13265 13195 BEARS: 13405 13465 13525
Today's Strategies: SHORT near 13405 13465 with a tight stop and 6-8 pts price targets.
NZDUSD
NZDUSD closed @ 7490 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 5 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bearish and the Price is Within the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways while 7545 holds and Daily Trend is also Sideways while 7345 holds, so expect the price to be Choppy until Breakout. The Daily Trend was within the Prior few Day's Range but the Bears gained mildly 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, 7530-45 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 @ 12965 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Hrly Level and the Low was 25 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 12895 holds and Daily Trend is Sideways while 13165 holds, so expect the price to be Choppy with a potential to Break Higher. The Daily Trend was within the Prior few Day's Range and the Bulls gained but gave up mildly towards the Close which signifies a Choppy session. The MA is suggesting a Choppy session with an Upside Bias and the Oscillators are Bullish. The Hourly Trend has been in a Range Trading with no Price Target and the Patterns are suggesting Higher Highs are expected, 12910-12895 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.
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Today's Strategies: Get the full report by visiting www.precisetrader.com for a Free Trial.