Spot Gold, NZD/USD, USD/SGD - May 22, 2013

Spot gold closed at 13760, which was below the open and within the prior day's trading range. The High was 0.5 Dollars from Precise Trader's Res Zone 1, and the Low was 1 Dollars from Precise Trader's Support Zone 10.

The hourly oscillators are mixed, and the price is within the MA, so a cautious approach is needed. The hourly trend is sideways while 13615 holds, and the daily trend is sideways down while 14300 holds, so expect the price to be choppy until breakout.

The Daily Close:
Bulls 13765 13720 13650 Bears 13835 13900 14020

Today's Strategies: trade at the bulls and bears levels only.


NZD/USD

The NZD/USD closed at 8170, which was unchanged from the open and within the prior day's trading range. The High was precisely at Precise Trader's Res Zone 1, and the Low was precisely at Precise Trader's Support Zone 2.

The hourly oscillators are bullish but weak and the price is within the MA, so a cautious approach is needed for the bulls. The hourly trend is sideways while 8260 holds, and the daily trend is sideways down while 8275 holds, so expect the price to be choppy until breakout.

The daily closed near the open, and is caught in a range but within a downtrend. The hourly is in a range but within downtrend mode and 8545-95 are in the bearish violation zone. The patterns are suggesting a range until the breakout. The 15min is in a range until the breakout. The bullish violation zone is 8120-8080 levels, and the PT Anchor Low/ High is 8155-90 levels.


USD/SGD

The USD/SGD closed at 12600, which was above the open and breached the previous day's high. The High was 25 pips from Precise Trader's Res Zone 2, and the Low was 25 pips from Precise Trader's Support Zone 1.

The hourly oscillators are bullish and the price is mildly above the MA, so the bears have to be sidelined. The hourly trend is sideways while 12460 holds, and the daily trend is sideways up while 12415 holds, so expect the price to be choppy until breakout.

The daily closed > r2 and is in a range with an uptrend mode. The hourly is in a range and 12290-12360 are in the bullish violation zone. The patterns are suggesting a range with a limited downside. The 15min is in a range until the breakout. The bullish violation zone is at 12535-75 levels and the PT Anchor Low/ High is at 12570-12605 levels.