EUR/USD & GOLD forecast 01.03.2013
EUR was unable to pass above resistance @ 1.3150-60 and with the bad USD GDP release reversed back to the downside to reach the bottom of the positive Ichimoku on Daily. Currently we are very close to break it lower. We have a good support at 1.2950-60 and i think it will hold the downside this week and will be a good point for a recovery to the upside. Weekly close below 1.3120 wil open the way to attack 1.2900 next week. We may see upside restoring only above 1.3310. There is a lot of economic data today and better than forecasted values for Germany and eurozone may rally the EUR, but this will be used mainly for opening new SHORT-s at better price. You may do the same, as the daily indicators still do not show any signs of correction.
GOLD also dropped heavily on lost risk appetite and firming of the dollar. Below 1575 expect another fall.
For today:
Short strateries will dominate
SHORT EUR below 1.3190 SL 1.3205 TP 1.3110-1.3090-1.3030-1.2980-1.2950
SHORT EUR below 1.3175 SL 1.3190 TP 1.3110-1.3090-1.3030-1.2980-1.2950
SHORT EUR below 1.3120 SL 1.3135 TP 1.3060-1.3000-1.2960 (be very careful here)
LONG EUR above 1.3260 SL 1.3240 TP 1.3320
SHORT GOLD below 1574 SL 1580 TP 1558-1550-1539
Good luck!
Any comments and discussions are welcomed here :) Thanks to all who have discussed yesterday
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Comment by sunil Dilip Shinde on March 1, 2013 at 6:33am -
thanks for forecast Vladimir Mihaylov it very helpful..
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Comment by Konwerska on March 1, 2013 at 7:34am
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Thank you for today's analysis and strategy, today a lot of proposals for the transaction promises to be interesting
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Comment by Ripan Das on March 1, 2013 at 7:50am -
Thanks Dear for ur forecast
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Comment by Deb Roy on March 1, 2013 at 7:55am
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Thanks Vladimir, I closely follow your setup and analysis, They are great. EUR has formed a very clear head and shoulder pattern and hit the 3050 area twice. There may be a possibility of a reversal here, although we do not see any sign of that right now. Also it seems that bearish trend is also loosing momentum. Pretty hard market to spot a right entry - in my opinion, it can go either way. I prefer a trend reversal, though!
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Comment by Bero maatouk on March 1, 2013 at 8:17am -
vladimir at what point should be carefull if we take short at 3110 or 3100 ?
do you mean at 1.2960 ?
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Comment by ala bala on March 1, 2013 at 8:28am
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SHORT EUR below 1.3190 SL 1.3205 TP 1.3110-1.3090-1.3030-1.2980-1.2950
SHORT EUR below 1.3175 SL 1.3190 TP 1.3110-1.3090-1.3030-1.2980-1.2950
What is your idea for separating one position in two?SHORT EUR below 1.3175 SL 1.3205 TP 1.3110-1.3090-1.3030-1.2980-1.2950
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Comment by Georgi Vukov on March 1, 2013 at 8:31am -
EUR/USD didn't dip below yesterday low at the beginning of the EU session and make a bottom @ 1.3060 so be careful with shorts not before 1.3130- 60. USD looks very leak now and I'm expecting another test in 1.3160 area. If fail to break higher, then we can see a break in 1.3050 and then 1.3000 for 1.2950. Good luck everybody.
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Comment by Bero maatouk on March 1, 2013 at 8:41am
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thx for the info georgi let's wait and see
good luck for u 2 :)
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Comment by Andrey on March 1, 2013 at 9:28am
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спасибо Владимир, отлично
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Comment by Georgi Vukov on March 1, 2013 at 1:07pm
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EURUSD touched key support level @ 1.2986 which is 82.42 in Dollar Index (82.42 is the low before the break on Aug 21 2012), next resistance is @82.50 Aug 21 2012 high, which should be the support around 1.2950-60 area.
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