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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Friday, 14 January 2011 07:21
SPOT GOLD
SPOT GOLD closed @ 13840 which was BELOW the open and was within prior day's trading range. The High was 1 Dollars from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Hrly Level. The Hourly Oscillators are Bearish but Weak and the Price is Within the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Sideways Down while 13885 holds and Daily Trend is Turning Down while 14085 holds, so expect the price to be Choppy with a potential to Break Lower. The Daily Trend breached the Prior Day's High , the Bears gained towards the Close and High/Low was within the Prior Day's Range which signifies a Range Trading with some Weakness. The Price is within the MA and the Oscillators are suggesting some Weakness. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session until the Break, 13850-885 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: 13705 13645 13585 BEARS: 13825 13865 13945
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 7710 which was ABOVE the open and breached the previous day's high. The High was 10 pips from Precise Trader's Res Tgt 2 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish but Overbought and the Price is Above the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways while 7635 holds and Daily Trend is Turning Down while 7815 holds, so expect the price to be Choppy until Breakout. The Daily Trend Rallied above the Prior Day's High , the Bulls were holding till the Close and the High & Low were above the Prior Day's which signifies some more Strength . The Price is well above the MA and the Oscillators are suggesting Limited Upside. The Hourly Trend has been in a Range Trading and the Patterns are suggesting the High may have been seen, 7670-35 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.
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Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.
USDSGD
USDSGD closed @ 12855 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 1. 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 12935 holds and Daily Trend is also Sideways Down while 13080 holds, so expect the price to be Choppy with a potential to Break Lower. The Daily Trend breached the Prior Day's Low , but the Bears gave up mildly towards the Close and the High & Low were Lower which signifies some Weakness but may be limited. The Price is within the MA and the Oscillators are suggesting some strength . The Hourly Trend has been in a Range Trading and the Patterns are suggesting it may bottom soon , 12910-35 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 & 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.