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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Thursday, 02 December 2010 06:16
SPOT GOLD
SPOT GOLD closed @ 13875 which was UNCHANGED from the open and was within prior day's trading range. The High was 0.5 Dollars from Precise Trader's Res Tgt 2 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are MIXED and the Price is Above the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways Up while 13745 holds and Daily Trend is also Sideways Up while 13500 holds, so expect the price to be Choppy with a potential to Break Higher. The Daily Trend breached the Prior Day's High but Price Closed unchanged towards the Close which signifies a Range Trading. The MA suggesting an Upside Bias and the Oscillators are suggesting Mixed Signals . The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns are suggesting a Choppy session until the Break, 13825-13745 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles suggests that the Bulls are Strong so the Bears may have to be Sidelined until 13820-13745 levels are regained.
BULLS: 13860 13815 13745 BEARS: 13975 14020 14105
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 7490 which was ABOVE the open and breached the previous day's high. The High was 10 pips from Precise Trader's Res Zone 5 (U Turn Zone) and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish and the Price is Within the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways while 7425 holds and Daily Trend is Sideways Down while 7710 holds, so expect the price to be Choppy until Breakout. The Daily Trend breached the Prior Day's High and the Bulls gained towards the Close which signifies a Range Trading. The MA is suggesting a Choppy session and the Oscillators are suggesting an Upside Bias. The Hourly Trend has been in a Range Trading with no Price Target and the Patterns are suggesting Higher highs are expected, 7450-25 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.
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USDSGD
USDSGD closed @ 13105 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 PRECISELY at Precise Trader's Sup Tgt 2. The Hourly Oscillators are Turning Bullish and the Price is Within the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Sideways Down while 13225 holds and Daily Trend is Limited Up while 13000 holds, so expect the price to be Choppy with a potential to Break Lower. The Daily Trend Plunged below the Prior Day's Open and the Bears were holding till the Close which signifies a Range Trading. The MA is suggesting a Range Trading with a Limited Upside Bias and the Oscillators are suggesting some strength but may be limited . The Hourly Trend has been in a Range Trading and the Patterns are suggesting that the Upside may be Limited , 13165-13225 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles suggests that the SGD is Weak against three Crosses , so the Bulls have to be Cautious.
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Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.