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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Thursday, 28 October 2010 06:23
SPOT GOLD
SPOT GOLD closed @ 13250 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 Dollars from Precise Trader's Sup Tgt 2. 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 Sideways Down while 13435 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 few Day's Range and the Bears gained aggressively but gave up mildly towards the Close which signifies some strength. The MA is suggesting a Choppy session 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 a Choppy session until the break, 13305-13370 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: 13195 13145 13070 BEARS: 13345 13425 13495
Today's Strategies: SHORT near 13345 13425 with a tight stop and 6-8 pts price targets.
NZDUSD
NZDUSD closed @ 7455 which was BELOW the open and breached the previous day's low. The High was 10 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 2. The Hourly Oscillators are Turning Bullish and the Price is Within the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Sideways while 7535 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 and the Bears gained but gave up partially towards the Close which signifies some strength .The MA is suggesting a Choppy session 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, 7495/7535 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 @ 13035 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Tgt 2 and the Low was 30 pips from Precise Trader's Sup Zone 1. 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 13090 holds and Daily Trend is Sideways while 13165 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 Bulls gained but gave up mildly towards the Close which signifies some Weakness. The MA is suggesting a Downside Bias and the Oscillators are Turning Bearish. The Hourly Trend has been Creeping Lower with no Price Target and the Patterns are suggesting Lower Lows are expected, 13060-90 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.