Forecast on Spot Gold: Cautious Approach For The Bulls

SPOT GOLD closed at 14765 which was ABOVE the open and was within prior day's trading range. The High was 0.5 Dollars from Precise Trader's Res Zone 5 (U Turn Zone) and the Low was 3.5 Dollars from Precise Trader's Sup Zone 1.

The Hourly Oscillators are Bullish but Weak and the Price is Mildly Above the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways while 14615 holds and Daily Trend is Limited Down while 15420 holds, so expect the price to be Choppy until Breakout.

The Daily Closed > R5 ,it has a Hourly potential target 14950/15090 levels but the break of 14850 is critical and 15910/1610 are the Bearish Violation Zone . The Patterns are suggesting a Range and the top is not seen yet but cautious approach is needed. The 15min is in a Range , but the downside is supported and has a target of 14870-14950 levels . The Bullish Violation Zone is 14340-14190 levels and the PT Anchor Low/ High is 14650-14780 levels, US Consumer Confidence are the important data for today

BULLS: 14650 14600 14500
BEARS: 14780 14850 14950

Today's Strategies: SIDELINED or strictly trade only at Precise Trader's Report Levels.


NZD/USD

NZD/USD closed at 8570 which was ABOVE the open and breached the previous day's high. The High was 10 pips from Precise Trader's Res Zone 5 (U Turn Zone) and the Low was 20 pips 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 8480 holds and Daily Trend is also Sideways while 8625 holds, so expect the price to be Choppy until Breakout.

The Daily Closed > R4 ,it has a Hourly potential target 8610-75 levels but the break of 8585 is critical and 8460-8380 are the Bullish Violation Zone . The Patterns are suggesting a Range with a potential upside breakout but cautious approach is needed. The 15min is in a Range , but the downside is supported near 8525-00 levels . The Bullish Violation Zone is 8480-8520 levels and the PT Anchor Low/ High is 8530-70 levels, US Consumer Confidence are the important data for today

USD/SGD

USD/SGD closed at 12335 which was BELOW the open and breached the previous day's low. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Zone 1.

The Hourly Oscillators are MIXED and the Price is Below the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 12475 holds and Daily Trend is also Sideways while 12485 holds, so expect the price to be Choppy until Breakout.

The Daily Closed >S1 ,it has a Hourly potential target 12270-40 levels but the break of 12315 is critical and 12395-12445 are the Bearish Violation Zone . The Patterns are suggesting the Bears may creep lower but cautious approach is needed. The 15min is in a Range , but the upside is protected and has a target of 12315-12270 levels . The Bearish Violation Zone is 12400-40 levels and the PT Anchor Low/ High is 12330-80 levels, US Consumer Confidence are the important data for today.