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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Thursday, 27 January 2011 04:59
SPOT GOLD
SPOT GOLD closed @ 13455 which was ABOVE the open and breached the previous day's high. The High was 1 Dollars from Precise Trader's Res Tgt 3 and the Low was 0.5 Dollars from 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 Sideways Up while 13355 holds and Daily Trend is Limited Down while 13655 holds, so expect the price to be Choppy with a potential to Break Higher. The Daily Trend breached the Prior Day's High, the Bulls were holding till the Close which signifies some more 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, 13400-355 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: 13395 13320 13250 BEARS: 13495 13535 13605
Today's Strategies: LONG near 13400 13355 with a tight stop and 6-8 pts price targets.
NZDUSD
NZDUSD closed @ 7725 which was ABOVE the open and breached the previous day's high. 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 and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways Up while 7615 holds and Daily Trend is also Sideways Up while 7580 holds, so expect the price to be Choppy with a potential to Break Higher. The Daily Trend breached the Prior Day's High , the Bulls were holding till the close which signifies some more strength . The Price is 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 , 7685-15 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 @ 12790 which was UNCHANGED from the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was 25 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 a Choppy session until the break, 12845-65 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.