EUR/USD forecast 07.09.2011
EUR rebounded from 100% Fibo support @ 1.3970 and is currently trading near 1.41. I expect the rebound to continue to 1.4260 before next leg down, we have 61.8% resistance there. MA 14 is @ 1.43 on Daily, so as we are below every rise is used to open short positions. Tomorrow is the BoE and ECB rate decision day, both are expected to be leaved unchanged and this is one of main reasons for the EUR recent fall. It's good to remember that FED does not want a strong dollar, so if something like drop below 1.40 happens FED will react immediately with for example talks for a new QE. Yesterday SNB surprised the markets,making all traders to sell CHF and GOLD. Today the same thing continues. Enter long only above 1.4440. Remember that 1.3860 is not tested yet, i expect this to happen, and neat that enter LONG. High volatile movements are possibe \like yesterday's\ so i'm not giving positions for SL. Just choose one strategy and follow it.
Any comment and questions are welcomed.
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Comment by UmairButt on September 7, 2011 at 8:59am -
hi.. can u telme which broker do you use? etoro is ok or not?
thanks..
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Comment by Vladimir Mihaylov on September 7, 2011 at 10:30am -
These two days GOLD rise is badly hit by SNB actions. Together with swiss franc GOLD is heading down again. Recent dollar strenght can now be seen in all USD involved pairs. GOLD suffers it too, but it seems to be just a correction - but it's good to remember that the last correction was almost 200USD down, so do not trade GOLD when it's in a correction phase, it's very dangerous and you may loose a lot of money. Enter LONG only if the price reaches 1910. On GOLG we may fall down to 1790 (and also we may not fall) the price of the gold depends much on uncertainty on financial markets - bad news from USA and bad from Europe, global economy slowdown data, etc.
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Comment by MarlonF on September 7, 2011 at 12:50pm -
do you think any corrections wont extend below 1790? or is it possible we might see 1705 again?
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Comment by goldynerd on September 7, 2011 at 2:52pm -
hello sir...
I am eagerly waiting for gold to fall...is this the least ....?
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Comment by Richard on September 7, 2011 at 3:21pm
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hi sir do u expect gbp/usd to reach 1.63 before falling
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Comment by Vladimir Mihaylov on September 7, 2011 at 3:28pm
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If GOLD goes to 1700 again this will be a spike low and will return quickly to 1750. Seems that my today's forecast on GOLD is successfull. GOLD may fall to 1750, it's less possible to fall down further, but be carefull.
@Richard - sorry man, i do not trade this pair and cannot give any forecast on it
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Comment by Jacobson MAthew on September 7, 2011 at 4:59pm
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not just gold, i see u r pretty accurate with your forecasts & the reasons behind it are also convincing, when we read your writeup. Always nice to read educated person's thoughts.
well done .!!
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Comment by MarlonF on September 7, 2011 at 6:37pm
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thanks for the advice mate, still think its holding good above 1790... what do u think ecb/boe interest rate decesion gonna play for gold tomorrow?
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