EUR has made a difficult rally, i've expected it to happen yesterday, but EUR dropped even further to 1.2763. At last the long needed correction is a fact. As expected Obama is the new president of the USA, manipulating the economic data did good job, now it's time for the real US data. In eurozone the situation is even worse, today there is an important vote in Greece for adoption a new budget cuts plan, and next monday on 12 nov, euromembers will decide for the new money transfer to Greece. There is a 48h strike all across Greece, and the country is completely paralized, nothing works. I'm sure there will be a new money transfer to Greece at 150%.

For today:

LONG EUR above 1.2840 SL 1.2810 TP 1.2890-1.2920

SHORT EUR below 1.2770 SL 1.2800 TP 1.2700 and below

we shall have a consolidation around 1.2900 it's quite possible fail there and reverse to 1.2800, i still think we are going higher, but be careful around there.

GOLD has made almost 40USD move higher, as i've told you last week recovery will be even stronger than the fall. GOLD seems prepaired to extend upside, we have resistance near 1740, so try these:

LONG GOLD above 1713 SL 1708 TP 1738-40

SHORT GOLD below 1705 SL 1711 TP 1685 and below

Good luck!

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Comment by Giriprasad Krishnappa on November 7, 2012 at 6:41am

Hi Bro, Am frequently following your analysis and really found worth.

I have a Question, I have opened two shorts on gold one at 1690 and another at 1698...since gold looks longer do u think should i cut off the present short now? or can gold fall below that in future ? You  can post your valuable feedback to my email id

Comment by Vladimir Mihaylov on November 7, 2012 at 11:55am

Too bad friend, why you didn't place stops? I always recommend 7-8 USD SL on GOLD. I think GOLD is in a recovery mode after free fall, further fall still possible below 1740 but not guaranteed. I cannot give you advice in this situation.

Comment by Vladimir Mihaylov on November 7, 2012 at 12:43pm

EUR has made a full reversal and heading towards the downside border of the bearish channel @ 1.2720

Comment by paul chijioke okeke on November 7, 2012 at 3:30pm

Hello Sir,doing wounderfuly good on ur forcast. pls i want to find out where eu bull is likly to resume.Thanks

Comment by Vladimir Mihaylov on November 7, 2012 at 4:18pm

EUR bulls may appear tomorrow in ECB leaves the rate unchanged, and next week as on Monday 12th euromembers will decide for the next money transfer for Greece. Over the Atlantic nothing has changed and Bernarke can sleep peacefully as his job is guaranteed :)


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