EUR/USD & GOLD forecast 10.01.2013
EUR finished yesterday below the open price and today's morning Asia dropped 30 pips more, as a whole EUR is trading calm close to the 1.3030 support. Next important zone is 1.2975-80 breaking of which will take us 50 pips more down or even to 1.2900-1.2880. To the upside first resistance is 1.3090 followed by the 1.3140-50 and then 1.3220. Abobe only 1.3300 but for today it's too far and i will not comment it further. On Daily second shoulder of the H&S model is still developing, but please notice that another push to 1.3140 is possible. For now the EUR and GOLD are trading in a very thin range, but later today will see some artificial volatility. With going up and down,then finally stop around 1.3020-30 and wait for the ECB decision. I avoid trading immediately the news, it's good to allow at least 2 hours to give the EUR time to determine any direction.
GOLD i think will rally today some hours before the ECB decision.
For today
LONG EUR above 1.3150 SL 1.3140 TP 1.3220 and above
SHORT EUR below 1.2970 SL 1.2990 TP 1.2900
LONG GOLD above 1662 SL 1657 TP 1674 and above
SHORT GOLD below 1651 SL 1657 TP 1640-1630
Good luck!
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Comment by Kevin Henry Ostermey on January 10, 2013 at 6:58am -
Always such professional and very accurate independent reviews! Keep up the good work!
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Comment by Franck Max on January 10, 2013 at 9:12am -
Wow Vlad, for the EUR, the recommendations for today are like 90 pips away from the current position, on either side.. Am I reading this right?
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Comment by Vladimir Mihaylov on January 10, 2013 at 11:37am -
Yes, you're reading right, i cannot determine direction between 1.3000 and 1.3140, movements in both directions are possible, if you're not sure what to do - stay away from the market today
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Comment by Vladimir Mihaylov on January 10, 2013 at 3:14pm
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Dollar falls across the board as jobless claims increased, and Draghi's speech shows stability in the ECB monetary policy, probably no rate cut before april or even later.
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Comment by Vladimir Mihaylov on January 10, 2013 at 3:17pm
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LONG GOLD target reached
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Comment by Vladimir Mihaylov on January 10, 2013 at 4:19pm
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LONG EUR target reached
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Comment by Kobe on January 10, 2013 at 4:36pm -
nice trades Vladimir!
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Comment by Bero maatouk on January 10, 2013 at 4:38pm -
awesome work vladimir thank you for everything :)
dear vladimir i just wanna ask you about gold trades,do we need a big account to trade with gold ?
and we trade with gold like we trade in currencies or it's totally different ??
thank for ur help vladimir
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Comment by Peter jcp on January 10, 2013 at 4:44pm -
Well done again Vladimir - you need praising because you are consistently correct with your daily forecasts and your analysis is easy to follow .Keep it up - regards Peter
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Comment by Vladimir Mihaylov on January 10, 2013 at 5:34pm
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GOLD is a dangerous matter, it may give you a lot of profit and a lot of loss. The best thing to remember there is that when it's going for more than 5-6 USD against you, you'd better exit because it will go a lot more against you for sure. GOLD moves are partly dependent but the price of the dollar. You have to trade with the smallest possible amount, if you are with the move you will make a good profit, but if you aren't you will have an afordable loss. Trading with GOLD isn't for beginners. Use MA indicator to trade GOLD it gives the best results, placing stops is a must when trading gold - otherwise you will loose your money very quickly.
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