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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Wednesday, 05 January 2011 07:00
SPOT GOLD
SPOT GOLD closed @ 13815 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 5.5 Dollars from Precise Trader's Sup Zone 10. The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 13960 holds and Daily Trend is Turning Down while 14245 holds, so expect the price to be Choppy with a potential to Break Lower. The Daily Trend Plunged below the Prior Day's Low and the Bears were holding till the Close which signifies a Range Trading with some weakness. The MA is providing Resistance and the Oscillators are suggesting Weakness . The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns are suggesting a Choppy session until the Break, 13875-13960 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: 13755 13685 13615 BEARS: 13870 13945 14005
Today's Strategies: SHORT near 13870 13945 with a tight stop and 6-8 pts price targets.
NZDUSD
NZDUSD closed @ 7665 which was BELOW the open and breached the previous day's low. The High was 10 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 2. 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 7725 holds and Daily Trend is Sideways Up while 7530 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 more Weakness but may be limited. The MA is approaching critical levels and the Oscillators are suggesting a Limited Downside Bias. The Hourly Trend has been in a Range Trading with no Price Target and the Patterns are suggesting that the Price may bottom soon, 7705-25 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 @ 12870 which was ABOVE 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 15 pips from Precise Trader's Sup Zone 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 Limited Up while 12815 holds and Daily Trend is Sideways Down while 13035 holds, so expect the price to have a Minimum Upside and the Bulls have to be Cautious. The Daily Trend was within the Prior two Day's Range and the Bulls gained mildly towards the Close which signifies a Range Trading. The MA is suggesting a Range Trading with a Limited Upside Bias and the Oscillators are suggesting limited Upside Bias. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session until the Break , 12815-12795 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.