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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Wednesday, 10 November 2010 07:19
SPOT GOLD
SPOT GOLD closed @ 13930 which was BELOW 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 6 Dollars from Precise Trader's Sup Tgt 3. The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways Down while 14145 holds and Daily Trend is Sideways Up while 13535 holds, so expect the price to be Choppy with a potential to Break Lower. The Daily Trend breached the Prior Day's High but the Bears gained aggressively towards the Close which signifies some Weakness. The MA suggesting a Choppy session and the Oscillators are giving Mixed Signals . The Hourly Trend has been in a Range Trading with no Price Target and the Patterns are suggesting a Choppy session until the break, 14055-14145 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: 13885 13805 13725 BEARS: 14015 14085 14155
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 7775 which was BELOW the open and breached the previous day's low. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was 5 pips from Precise Trader's Sup Zone 5 (U Turn Zone). The Hourly Oscillators are Bearish but Oversold and the Price is Within the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Turning Up while 7665 holds and Daily Trend is Sideways while 7925 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 Plunged below the Prior Day's Open and the Bears were holding till the Close which signifies some more Weakness .The MA is suggesting a Choppy session with a Limited Downside Bias and the Oscillators are Bearish but Oversold. The Hourly Trend has been in a Range Trading with no Price Target and the Patterns are suggesting that the Downside may be Limited, 7815-55 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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Today's Strategies: Get the full report by visiting www.precisetrader.com for a Free Trial.
USDSGD
USDSGD closed @ 12905 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 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 12935 holds and Daily Trend is also Sideways Down while 12985 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 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, 12935-60 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.