EUR/USD & GOLD forecast 24.10.2011
Still it's not clear the percentage of the Greece's deficit to be removed from the assets of the EU banks (most of them French), banks have demanded not much as 40%, but the EU leaders wanted over 50%. At the same time Frence is facing a raiting decrease threat. Another 8 bln EUR for Greece,and Greek government may breathe again, when they finish the money again, stupid EU leaders will give more, who cares. I wonder for how much time Merkel and Sarkozy are going to continue that farce.
This morning we have almost reached my target from last week. My LONG from 1.3860 to 1.3940 has been closed with +80 pips. Seems that we shall have a small pullback and another push higher to 1.3960. It's less possible but is possible to touch 1.4000. But will be unable to stay there. You may enter SHORT at any level above 1.3940. If we are capable somehow to close above 1.4040 (which is weird) upside should be capped by 1.4120. But that's very very difficult and i can't see how it could happen.
GOLD is prepaired to jump to 1700 again after finding solid ground @ 1640.
Stay tuned for further updates.
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Comment by Vladimir Mihaylov on October 24, 2011 at 7:07am -
EU leaders are desperately trying to restore the confidence in the EU's economy, but despite all EUR is targeted @ 1.30 till the end of december. Surprises are possible, but most analyst think 1.30 will be the price for the beginning of the 2012. Tomorrow will be a pullback day which may start even today with the risk aversion, first support @1.3830. On Wednesday will be the final adoption of the plan for banks recapitalization, strong moves expected so be carefull!
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Comment by MarlonF on October 24, 2011 at 7:08am -
thanks for the update mate, much awaited..
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Comment by MarlonF on October 24, 2011 at 8:22am
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dont you think euro is loosing steam? still do u think 1.3940 is possible>
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Comment by MarlonF on October 24, 2011 at 12:45pm
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btw have u taken any positions today?
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Comment by Vladimir Mihaylov on October 24, 2011 at 3:12pm
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I'm waiting for the next upleg to enter SHORT as my forecast is
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Comment by MarlonF on October 24, 2011 at 5:52pm
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am already short @ 1.3934... whats the target?
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