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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Monday, 15 November 2010 06:52
SPOT GOLD
SPOT GOLD closed @ 13685 which was BELOW the open and breached the previous day's low. The High was 1 Dollars from Precise Trader's Res Zone 1 and the Low was 6.5 Dollars from Precise Trader's Dly Level. The Hourly Oscillators are Bearish and the Price is Within the MA, so the Bulls have to be Sidelined. Hourly Trend is Limited Down while 13855 holds and Daily Trend is Sideways while 13345 holds, so expect the price to have a Minimum Downside and the Bears have to be Cautious. The Daily Trend Plunged below the Prior Day's Low and the Bears gave up mildly towards the Close which signifies some Strength. The MA suggesting a Downside Bias but may be limited and the Oscillators are Bearish . The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns are suggesting Lower lows are expected but may be limited, 13765-13825 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: 13600 13545 13455 BEARS: 13755 13855 13965
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 7735 which was BELOW the open and breached the previous day's low. The High was 15 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 and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Limited Down while 7785 holds and Daily Trend is Sideways while 7560 holds, so expect the price to have a Minimum Downside and the Bears have to be Cautious. The Daily Trend breached the Prior Day's Low and the Bears gave up mildly towards the Close which signifies some Strength .The MA is suggesting a Downside Bias but may be limited and the Oscillators are Bearish. The Hourly Trend has been Creeping Lower with no Price Target and the Patterns are suggesting that the Downside may be Limited, 7775-85 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles suggests that NZD is Weak against Five Crosses so the Bulls may have to be Sidelined.
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USDSGD
USDSGD closed @ 12975 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Res Tgt 1 and the Low was 25 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Turning Down while 13125 holds and Daily Trend is Turning Up while 12825 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 is suggesting an Upside Bias but may be limited and the Oscillators are Bullish . The Hourly Trend has been marching Higher with 13085/13125 as Price Targets and the Patterns are suggesting Higher Highs are expected, 12920-12860 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles suggests that SGD is Weak against Six Crosses so the Bears have to be Sidelined until 12920 is regained.
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Today's Strategies: Get the full report by visiting www.precisetrader.com for a Free Trial.