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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Wednesday, 26 January 2011 07:16
SPOT GOLD
SPOT GOLD closed @ 13270 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 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 Turning Up while 13215 holds and Daily Trend is Limited Down while 13655 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 gave up mildly towards the Close which signifies some strength . The Price is within the MA's and the Oscillators are suggesting some strength. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session with a potential to break higher, 13270-215 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: 13275 13205 13135 BEARS: 13375 13425 13475
Today's Strategies: LONG @ the Break 13375 with a tight stop and 6-8 pts price targets.
NZDUSD
NZDUSD closed @ 7690 which was ABOVE the open and breached the previous day's high. The High was 20 pips from Precise Trader's Res Tgt 2 and the Low was 10 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 Sideways while 7605 holds and Daily Trend is also Sideways while 7805 holds, so expect the price to be Choppy until Breakout. The Daily Trend breached the Prior Day's High , the Bulls were holding till the close which signifies some more strength . The Price is mildly above the MA's and the Oscillators are suggesting some strength. The Hourly Trend has been in a Range Trading and the Patterns are suggesting higher highs are expected , 7650-05 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 @ 12795 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 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 12865 holds and Daily Trend is also Sideways while 12985 holds, so expect the price to be Choppy until Breakout. The Daily Trend was within the Prior Day's Range but the Bears gained mildly towards the Close which signifies some weakness. The Price is within the MA's and the Oscillators are suggesting a Choppy session . The Hourly Trend has been in a Range Trading and the Patterns are suggesting lower lows are expected , 12830-65 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.