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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Monday, 29 November 2010 06:24
SPOT GOLD
SPOT GOLD closed @ 13635 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 4 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 while 13720 holds and Daily Trend is also Sideways while 13300 holds, so expect the price to be Choppy until Breakout. The Daily Trend was within the Prior few Day's Range but the Bears gave up partially towards the Close which signifies some strength. The MA suggesting a Choppy session with a Downside Bias and the Oscillators are Mixed . The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns are suggesting a Choppy session until the Break, 13690-13720 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: 13520 13420 13320 BEARS: 13720 13820 13925
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 7500 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 10 pips from Precise Trader's Sup Zone 5 (U Turn Zone). The Hourly Oscillators are Bearish but Oversold and the Price is Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Limited Down while 7585 holds and Daily Trend is Sideways Down while 7840 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 were holding till the Close which signifies some more Weakness but the Price is approaching Critical levels. The MA is suggesting a Downside Bias but may be Limited 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, 7540-75 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 Precise Trader for a Free Trial.
USDSGD
USDSGD closed @ 13195 which was ABOVE the open and breached the previous day's high. The High was 15 pips from Precise Trader's Res Zone 5 (U Turn Zone) and the Low was 30 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 Down while 13335 holds and Daily Trend is Sideways Up while 12925 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 gave up mildly towards the Close which signifies some Weakness. The MA is suggesting a Range Trading with a Limited Upside Bias and the Oscillators are Turning Bearish . The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session until the Break , 13140-00 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 & BEARS : Get the full report by visiting Precise Trader for a Free Trial.
Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.