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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Friday, 11 February 2011 07:03
SPOT GOLD
SPOT GOLD closed @ 13635 which was UNCHANGED from the open and was within prior day's trading range. The High was 0.5 Dollars from Precise Trader's Res Zone 1 and the Low was PRECISELY at 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 13480 holds and Daily Trend is Turning Up while 13080 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 until the Break . The Price is mildly above the MA's and the Oscillators are suggesting limited Upside. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a choppy session until the break , 13580/13480 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: 13585 13500 13445 BEARS: 13685 13725 13785
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 7645 which was BELOW the open and breached the previous day's low. The High was 20 pips from Precise Trader's Res Zone 1 and the Low was 5 pips from Precise Trader's Sup Zone 5 (U Turn Zone). The Hourly Oscillators are Bearish but Oversold and the Price is Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Sideways Down while 7700 holds and Daily Trend is Turning Down while 7825 holds, so expect the price to be Choppy with a potential to Break Lower. The Daily Trend Plunged below the Prior Day's Open, but the Bears were holding till the Close which signifies some Weakness . The Price is Below the MA's and the Oscillators are suggesting some Weakness. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a choppy session with a potential to break lower, 7685/7700 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.
USDSGD
USDSGD closed @ 12780 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Hrly Level and the Low was 20 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 12725 holds and Daily Trend is also Sideways while 12960 holds, so expect the price to be Choppy until Breakout. The Daily Trend was within the Prior few Day's Range , the Bulls gained mildly towards the Close which signifies a Range Trading. The Price is within the MA's and the Oscillators are suggesting mild strength . The Hourly Trend has been in a Range Trading and the Patterns are suggesting a significant Low may have been seen, 12740-25 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.