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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Thursday, 06 January 2011 06:03
SPOT GOLD
SPOT GOLD closed @ 13795 which was UNCHANGED from the open and was within prior day's trading range. The High was PRECISELY at 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 13895 holds and Daily Trend is Turning Down while 14185 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 but the Bears gave up all their gains towards the Close which signifies a Range Trading with some strength. The MA is well above the Price and the Oscillators are suggesting Weakness but may be limited . The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns are suggesting a Choppy session until the Break, 13830-895 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: 13715 13645 13575 BEARS: 13830 13875 13940
Today's Strategies: SHORT near 13830 13875 with a tight stop and 6-8 pts price targets.
NZDUSD
NZDUSD closed @ 7570 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 PRECISELY at 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 Sideways Down while 7660 holds and Daily Trend is Sideways Up while 7425 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 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, 7610-60 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 @ 12925 which was ABOVE the open and breached the previous day's high. The High was 10 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 but Weak and the Price is Within the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Limited Up while 12835 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 breached the Prior Day's High and the Bulls were holding till the Close which signifies some more strength. The MA is providing some support 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 , 12870-35 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.