EUR/USD forecast 06.09.2011

We are still in a flat consolidation state,that's why i'm not posting new forecasts.Nothing interesting happens untill today. I've forecasted EUR will go to 1.4130, but it went some 100 pips below my recent forecast. And now we're back again some 250 pips for less than 2 hours. It was widely expected because we were too far away from the negative Ichimocu on H4 so we shall now go to 1.4340 before next DOWN move. After 6 days of continuous fall it was time to take some profit and to hit some stops. I think that some suffered huge losses through this move today. In fact i expected EUR to fall to 1.3970 and even to 1.3920 and there to enter LONG, but it seems tnat nerves of the big players were weak. We have now some good LONG positions to attack 1.47 and this will happen in the next 4-6 weeks. If not possible to hold above 1.47 a major downside move will begin with target 1.35 and below - near the 2011 year end. Add to longs on a close above 1.4240 first target 1.4520, second 1.4680.

For today we shall go no more than 1.4240-60, pullbacks to 1.4130 possible.

Tags: EUR/USD

2 members like this

Comment by MarlonF on September 6, 2011 at 9:28am: good to c u back mate.. still think 2000 on the cards for gold?

Comment by Vladimir Mihaylov on September 6, 2011 at 10:26am: @MarlonF - 2000 and above - it's only a matter of time

Comment by Vladimir Mihaylov on September 6, 2011 at 3:35pm: Seems that my first plan is going to became a reality soon. I'm looking to enter LONG near 1.3920. A drop to 1.3830 is possible in the next 10 days with a huge pullback to 1.41

Comment by Vladimir Mihaylov on September 6, 2011 at 4:11pm: If 1.4055 is broken we may drop to 1.3840 - Commerzbank

Comment by Vladimir Mihaylov on September 6, 2011 at 4:26pm: We have stopped downside movement exactly where my 100% Fibo level is placad - @ 1.3970, if broken next support is @ 1.3850-60. It's just Tuesday we have some more days till the end of the week. We are moving towards the down border of a major downside channel which started at the beginning of May 2011, and this support is situated @ 1.3840-60 area. I expect it to hold the further downside movement and to open LONGs from there with target 1.4400, we have 4-6 weeks to develop the current model.

Comment by Jacobson MAthew on September 7, 2011 at 8:35am: hi ,the gold seems to be going against your expectation. do you still see gold pulling back to 1900 levels ?

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