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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Tuesday, 09 November 2010 07:13
SPOT GOLD
SPOT GOLD closed @ 14090 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Tgt 3 and the Low was PRECISELY at Precise Trader's Sup Tgt 1. The Hourly Oscillators are showing Bearish Divergence and the Price is Above the MA, so Bears book your profit or remain Sidelined. Hourly Trend is Turning Down while 14235 holds and Daily Trend is Sideways Up while 13585 holds, so expect the price to Turn Down Soon, so the Bulls may stay Sidelined and the Bears get ready to pull the Trigger. The Daily Trend breached the Prior Day's High and the Bulls were holding till the Close which signifies some more Strength. The MA suggesting an Upside Bias and the Oscillators are saying the Upside may be Limited. The Hourly Trend has been in a Range Trading with no Price Target and the Patterns are suggesting a Choppy session until the break, 14035-13975 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: 14035 13970 13900 BEARS: 14135 14205 14265
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 7880 which was BELOW the open and breached the previous day's low. The High was 20 pips from 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 Limited Down while 7945 holds and Daily Trend is Sideways Up while 7600 holds, so expect the price to have a Minimum Downside and the Bears have to be Cautious. The Daily Trend was within the Prior 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 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, 7920-45 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.
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 @ 12880 which was ABOVE 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 15 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 while 12925 holds and Daily Trend is Sideways Down while 12985 holds, so expect the price to be Choppy until Breakout. The Daily Trend was within the Prior two Day's Range and the Bulls gained but gave up mildly towards the Close which signifies a Range Trading. The MA is suggesting a Choppy session 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, 12925-35 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.