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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Monday, 31 January 2011 05:48
SPOT GOLD
SPOT GOLD closed @ 13370 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 10 and the Low was PRECISELY at Precise Trader's Sup Tgt 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 13115 holds and Daily Trend is Limited Down while 13725 holds, so expect the price to be Choppy with a potential to Break Higher. The Daily Trend was within the Prior Day's Range but the Bulls gained aggressively but gave up mildly towards the Close which signifies some Weakness but may be limited . The Price is within the MA's and the Oscillators are suggesting some more strength. The Hourly Trend has been in a Range Trading and the Patterns are suggesting that the Low may have been seen , 13285/115 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: 13280 13180 13110 BEARS: 13465 13550 13625
Today's Strategies: LONG near 13280 13200 with a tight stop and 6-8 pts price targets.
NZDUSD
NZDUSD closed @ 7735 which was UNCHANGED from the open and was within prior day's trading range. The High was 10 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 Turning Bearish and the Price is Within the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Sideways Down while 7775 holds and Daily Trend is Sideways Up while 7580 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 till the close which signifies some Weakness . The Price is mildly above the MA's and the Oscillators are suggesting Weakness. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a potential to turn down, 7760-75 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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USDSGD
USDSGD closed @ 12850 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Hrly Level and the Low was 25 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 12800 holds and Daily Trend is Sideways while 12945 holds, so expect the price to be Choppy with a potential to Break Higher. The Daily Trend breached the Prior Day's High and 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 more strength . The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session with a potential to break higher, 12795-70 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 & 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.