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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Friday, 18 February 2011 07:17
SPOT GOLD
SPOT GOLD closed @ 13850 which was ABOVE the open and breached the previous day's high. The High was 1.5 Dollars from Precise Trader's Res Tgt 2 and the Low was 0.5 Dollars from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish but Weak and the Price is Above the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways while 13670 holds and Daily Trend is Sideways Up while 13510 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 a Range trading with some more strength . The Price is 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 , 13795/13670 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: 13745 13645 13530 BEARS: 13880 13960 14015
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 7590 which was ABOVE the open and breached the previous day's high. The High was 20 pips from Precise Trader's Res Zone 1 and the Low was 10 pips 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 7550 holds and Daily Trend is Sideways Down while 7705 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 that the Low may have been seen, 7550-20 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 @ 12760 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 PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bearish and the Price is Within the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways while 12830 holds and Daily Trend is also Sideways while 12925 holds, so expect the price to be Choppy until Breakout. The Daily Trend was within the Prior few Day's Range the Bears gained towards the Close which signifies a Range Trading until the break. 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 until the Break, 12815-30 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.