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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Thursday, 20 January 2011 06:45
SPOT GOLD
SPOT GOLD closed @ 13705 which was ABOVE the open and was within prior day's trading range. The High was 2 Dollars from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bearish and the Price is Within the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Sideways while 13805 holds and Daily Trend is also Sideways while 13985 holds, so expect the price to be Choppy until Breakout. The Daily Trend was within the Prior Day's Range but the Bulls gave up mildly towards the Close and High/Low were 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 Weakness . The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session until the Break, 13760/13805 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: 13645 13565 13485 BEARS: 13745 13805 13855
Today's Strategies: SHORT near 13745 13805 with a tight stop and 6-8 pts price targets.
NZDUSD
NZDUSD closed @ 7690 which was BELOW the open and breached the previous day's low. The High was 15 pips from Precise Trader's Res Tgt 2 and the Low was 5 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bearish and the Price is Within the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 7715 holds and Daily Trend is Sideways while 7845 holds, so expect the price to be Choppy with a potential to Break Lower. The Daily Trend breached the Prior Day's High but the Bulls could not hold their gains and closed below the Open which signifies Weakness . The Price is mildly below the MA and the Oscillators are suggesting Weakness. The Hourly Trend has been in a Range Trading and the Patterns are suggesting Lower lows are expected but we may see a pullback, 7665/7715 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles suggesting that NZD is Weak against Five Crosses , so the Bulls may have to be Sidelined until 7665/7715 is regained.
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USDSGD
USDSGD closed @ 12830 which was UNCHANGED from the open and was within prior day's trading range. The High was 10 pips from Precise Trader's Res Zone 1 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 Turning Up while 12785 holds and Daily Trend is Limited Down while 13045 holds, so expect the price to Turn Up Soon, so the Bears may stay Sidelined and the Bulls get ready to pull the Trigger. The Daily Trend breached the Prior Day's Low but the Bears could not hold till the Close which signifies some strength. The Price is mildly above the MA and the Oscillators are suggesting strength . The Hourly Trend has been in a Range Trading with an Upside Bias and the Patterns are suggesting the Low may have been seen , 12805/12785 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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