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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Friday, 28 January 2011 07:26
SPOT GOLD
SPOT GOLD closed @ 13145 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 3.5 Dollars from Precise Trader's Critical Sup. The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Limited Down while 13300 holds and Daily Trend is also Limited Down while 13535 holds, so expect the price to have a Minimum Downside and the Bears have to be Cautious. The Daily Trend plunged below the Prior Day's Open, the Bears were holding till the Close which signifies some more Weakness . The Price is below the MA's and the Oscillators are suggesting some more Weakness. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session with a potential to break lower, 13200-300 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: 13070 13000 12950 BEARS: 13225 13285 13350
Today's Strategies: SHORT near 13180 13225 with a tight stop and 6-8 pts price targets.
NZDUSD
NZDUSD closed @ 7720 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 10 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are MIXED and the Price is Above the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 7640 holds and Daily Trend is Sideways Up while 7580 holds, so expect the price to be Choppy until Breakout. The Daily Trend breached the Prior Day's High but the Bulls could not hold till the close which signifies some Weakness . The Price is mildly above the MA's and the Oscillators are suggesting mixed signals. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a potential to turn down, 7680-40 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 PRECISELY at Precise Trader's Res Zone 1 and the Low was 20 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 12935 holds, so expect the price to be Choppy until Breakout. The Daily Trend was within the Prior Day's Range and the Price Closed unchanged which signifies a Range Trading. 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.