Comment by Vladimir Mihaylov on August 18, 2011 at 11:06am

I have small LONG @ 1.4385, we have again bad data from EU, not the only hope for the EUR is far more bad data from USA - besides GOLD is attacking all time high. Those who bought GOLD are happy now :)

Comment by George on August 18, 2011 at 2:37pm

Hi Vladimir,

probably this is not a good moment to ask but what about your SL limit???

Do you think that we have chance to pull back to 1.44???

 

Thanks

Comment by Vladimir Mihaylov on August 18, 2011 at 2:53pm

We are now testing te top border of the negative Ichimocu on Daily chart and MA14 still holds. we have a 61.8% retracement @ 1.4220 and bearish move will continue until that. You may enter LONG @ 1.4250 for 1.4320 or to wait for 1.4220. I think tomorrow we are going up again as we are in a flat consolidation model.

The rason for the EUR fall is the good consumer price index and risk aversion on european debt crisis. All are hiding in GOLD which has made new all time high, that's harming badly EUR.

Comment by George on August 18, 2011 at 2:58pm

I enter long @1.4370 and it didn't hit my TP. I didn't close this position and now I'm thinking what to do.

Good luck

Comment by Vladimir Mihaylov on August 18, 2011 at 2:59pm

@ Edgars - i cannot agree with that, the reason for the EUR fall today is not the bad US data, but the bad situation in EU as i've mentioned in my article this morning, and the GOLD rush, along with that USD makes gains too. But thank you for your opinion - highly appreciated=

@ George - My SL is around 40-50 pips, and 5-6 USD on GOLD. Yes, i think we shall have 1.44 and up again, maybe tomorrow if not then next week.

Comment by JimV on August 18, 2011 at 4:18pm

Dear Mr Vladimir , what do u see about eur/usd during the night?

Regards JimV

Comment by Vladimir Mihaylov on August 18, 2011 at 5:25pm

A drop to 1.4220 still possible and probably will happen in the next 16-18h. If we take a closer look to the US data released we shall see that Philadelphia FED index is far low than expected and many analyst think that this could affect much the following NFP, and if there is a major decrease in NFP it should refuel the EUR engine and boost the upside movement. Remember also that we have a confirmed double top on Daily so if you're LONG you'd better stop below 1.4220. If we are below 1.4220 we are going to 1.4170 and then 1.4110-30  which constantly holds from a very long time. But i think upside movement would prevail next week.

Comment by George on August 18, 2011 at 5:33pm

Hope first to move to 1.4410/20 level before drop.

Comment by Vladimir Mihaylov on August 18, 2011 at 5:50pm

@George - a drop to 1.4220 still very possible, be carefull and be sure you have enough money to hold such position. We need to retest the support before going up again. Support still not reached.

Comment by George on August 18, 2011 at 5:57pm

And this is a problem. It is possible not to have enough money but at this level it is also impossible to close this position :/ So now I have no choice - hope first for this level 1.4410.

 

Good luck 

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