EUR/USD & GOLD forecast 03.01.2013
Happy New Year 2013 to all of you, and i wish you to have more profit this year :)
As i've said in the last days of the 2012 dollar usually is strong during the first week of the new year. Yesterday's move higher was just to confuse little experienced and to make a good price to sell. There are serious troubles for the bulls near 1.3300 and 1.3350 seems far away. Currently the price finally broke the Ichimoku cloud at H4 frame indicators are pointing to the downside with target 1.3030. Daily frame shows that bulls are giving up and also the target is 1.2980-1.3010. Weekly overall support is @ 1.2860, breaking below will take us at least to 1.2600.
Remember what Merkel has said in the last hours of 2012 - "be more patient, because the crisis is far from over" and please pay attention to the fact that when the German chancellor says the things are bad - they really are bad. Soon many will realize that - be the first to know it.
For today it was better to sell at 1.3200 but if you're late like me, you may sell at any price near 1.3150 with for example 20 pips stop and target below 1.3100. There will be a little hesitation around 1.3110 with a possible pullback to the upside then the price have to go to the downside with target 1.3030. Notice that we have some minor support at 1.3090 too.
GOLD entered in a recovery mode, but restoring the bullish trend is still far above. We may fully restore the bullish trend only on a daily close above 1715.
For today:
SHORT EUR below 1.3150 SL 1.3170 TP 1.3110-1.3090-1.3030
LONG EUR only if today's close is above 1.3220 which i really doubt
LONG GOLD above 1771 SL 1767 TP 1700-1705
SHORT GOLD below 1662 SL 1770 TP 1650 and below
Good luck!
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Comment by Peter jcp on January 3, 2013 at 10:41am -
Interesting - glad you did not get stopped out Giriprasad at 3170 as Valdimir's stop loss recommendation. I suppose it would depend on your broker and platform - on one platform I would have been stopped -if I had a stop on 3170 - on the other it only made 31686 with less than a one pip spread and would have been OK
GL with the other targets
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Comment by Vladimir Mihaylov on January 3, 2013 at 12:29pm -
Of course SL may be hit in the trading process, but you may enter again on another wave down.
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Comment by Hammad on January 3, 2013 at 2:30pm -
hello vladimir, hello peter..... Forecast recommendation is just a strong idea depending upon education.... we should watch for these great recommendations by Mr. Vladimir but we should also look at the levels and entry points...we should'nt trade blindly but also have to depend upon our decision making....we should decide when to enter a trade and when to exit.Forecaste by the strategists like Mr.Vladimir helped me learn infact learn quickly... i got up early in the morning and first read his forecaste that made me look clearer into the 1H and 4H charts.1.3162 was the 1st weekly support on classic pivot when it broke it acted like a strong resistance and actually that was the short entry point. Thank you Mr.Vladimir for every thing and i always love to read your forecastes.You are a genious brother.
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Comment by Peter jcp on January 3, 2013 at 2:35pm
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I totally agree with you Hammad - and also would join you in saying Vladimar is a great forecaster and it is always worth reading what he might be predicting - regards Peter
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