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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Tuesday, 16 November 2010 06:57
SPOT GOLD
SPOT GOLD closed @ 13605 which was BELOW the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was 1 Dollars from Precise Trader's Sup Zone 5 (U Turn Zone). The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Turning Up while 13460 holds and Daily Trend is Sideways while 13345 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 breached the Prior Day's Low and the Bears gave up mildly towards the Close which signifies some more Weakness but it is approaching critical levels. The MA suggesting a Downside Bias but may be limited and the Oscillators are Mixed . 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, 13660-13720 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: 13540 13465 13405 BEARS: 13675 13765 13845
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 7730 which was UNCHANGED from the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Hrly Level and the Low was 5 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 7805 holds and Daily Trend is also Sideways while 7590 holds, so expect the price to be Choppy until Breakout. The Daily Trend was within the Prior Day's Range and the Price Closed unchanged towards the Close which signifies a Range Trading .The MA is suggesting a Mixed Bias and the Oscillators are Mixed. The Hourly Trend has been in a Range Trading with no Price Target and the Patterns are suggesting that the Downside may be Limited, 7770-7805 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 @ 13030 which was ABOVE the open and breached the previous day's high. The High was 30 pips from Precise Trader's Res Zone 5 (U Turn Zone) and the Low was 10 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bearish and the Price is Above the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Turning Up while 12890 holds and Daily Trend is also Turning Up while 12825 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 breached the Prior Day's High but the Bulls gave up partially towards the Close which signifies some Weakness. The MA is suggesting a Limited Downside Bias and the Oscillators are Turning Bearish . The Hourly Trend has been marching Lower but may be limited and the Patterns are suggesting that the Price may turn up soon, 13065-85 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles suggests that SGD is Strong against two Crosses so Cautious approach is needed for the Bears.
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Today's Strategies: Get the full report by visiting www.precisetrader.com for a Free Trial.