EUR has finally reached 1.3620 forecasted target from yesterday and still the bullish push higher is very strong, with absolutely no signs of reversing on any time frame. Seems that there is nothing to stop the generalized dollar weakness. Next target is around 1.3700-1.3720. With the dramatically rising jobless claims dollar future is bad. Today's NFP if bad will be the final nail in the dollar's coffin. Then target will be 1.4000 and above. Until next talks to money transfer for Greece, do not forget also that high price of the EUR affects badly EU countries, and this will be very bad later through the year.

So soo i expect the EUR to return at least to 1.3520 , i repeat that for now there are no signs for that. First signal may be a drop below 1.3560 but that needs to be confirmed by at least one more H4 bar.

GOLD reversed and now pointing to downside again with the greater interest on EUR. Expect more slide.

For today:

LONG EUR above 1.3600 SL1.3580 TP 1.3700-1.3720

SHORT EUR below 1.3560 SL 1.3580 TP 1.3510-1.3490

SHORT GOLD below 1664 SL 1667 TP 1647

LONG GOLD above 1669 SL 1663 TP 1680 (high risk)

Good luck! 

Views: 1383

Tags: EUR, GOLD, USD

Comment by john richmond on February 1, 2013 at 10:09am
will the bubble blow? eu is heavily over sold right now
Comment by Vladimir Mihaylov on February 1, 2013 at 12:47pm

I do not know, but a partly profit taking may occur in late american session, pulling the price back to 1.3600

Comment by Neo on February 1, 2013 at 1:34pm

very confusing news from US, some +ve some -ve, plz clear what will be affect, on EURUSD

Comment by Muhamad Agung Wibowo on February 1, 2013 at 1:53pm

During US data announcement this week, GOLD has had many whipsaws and extreme price jumps/falls (1000s of pips in matter of seconds).. like walking on a landmine.. very dangerous..

Comment by Vladimir Mihaylov on February 1, 2013 at 2:55pm

Please don't take news so seriously, follow the market. There is a high possibility of profit taking which mabye has already started, next 2 hours will be very important for 1.3560

Comment by Pavel Georgiev on February 1, 2013 at 4:21pm

nice

Comment by Vladimir Mihaylov on February 1, 2013 at 4:21pm

Support 1.3560-80 has stopped the downside and a powerful reverse occured reaching my LONG target for today.

Comment by meantrade on February 1, 2013 at 6:17pm

wow, great levels today. spot on. will follow more closely next week to supplement my own trades.

Comment by xtian21 on February 1, 2013 at 7:00pm

Thank you so much....Regards

Comment by Bero Maatouk on February 1, 2013 at 7:26pm

well done vladimir thank youuuuuu for these beautiful and accurate targets for today as usual :)

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