EUR/USD & GOLD forecast 14.03.2013
EUR was unable to break the 1.3070 resistance yesterday, and my upside scenario has failed. EUR formed a double top formation and together with the much better than expected economic data from US went deeper below 1.3000, triggering my short strategy. Downside move stopped at 1.2923 with a 50 pips pullback. Currently EUR is testing again 1.2940-50 support zone. Now previous support at 1.2980-1.3000 is clearly broken and has become a resistance. The best chance to break lower is this week and EUR used that, some 10 days ago i have told you that we have 10 days to break lower, some of you who read my forecasts every day will remember that. So the next target is 1.2850-60 where is the MA200 on Daily. Breaking below will be very bad for the EUR because it will open the way to 1.2700 which is the last support left. I think that MA200 will cap the further downside and my advice is to buy below 1.2900 with 50-60 pips stop for target around 1.3100. Today and tomorrow we have an EU leaders' summit also some important economic data.
GOLD was unable to break 1600 and returned to 1581 where is the support. You may try to enter LONG again as the gold is still in a correction mode to the upside.
For today:
SHORT EUR below 1.2980 SL 1.3010 TP 1.2930-1.2900-1.2890-1.2860
LONG above 1.2850 SL 1.2830 TP 1.2950-1.2980-1.3030
possible rebound from 1.2940 support to 1.2980 before next downside move
LONG GOLD above 1581 SL 1577 TP 1600-1615
SHORT GOLD below 1566 SL 1570 TP 1550 and below
Good luck!
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Comment by Giriprasad Krishnappa on March 14, 2013 at 6:12am -
Dear Sir, Do u have any Idea about Silver? Please If u dont mind....
Thank you
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Comment by Umut Esmer on March 14, 2013 at 6:38am
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I would recommend www.oilngold.com for silver; unless Mr. Mihaylov, who has much better analysis, has worked on it.
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Comment by Konwerska on March 14, 2013 at 7:20am
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Thanks for your excellent analysis. I remember when you wrote about the decline within 36 hours, worked perfectly
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Comment by Vladimir Mihaylov on March 14, 2013 at 8:16am -
My position: SHORT EUR @1.2955 SL1.2995 TP1.2895-1.2875 (opened)
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Comment by Georgi Vukov on March 14, 2013 at 10:12am -
My trade idea is sell the break of 1.2940 SL @ 1.2960 TP @ 1.2880/ 1.2850/ 1.2800, or Buy the break of 1.2980 SL 1.2960 TP @ 1.3060/ 1.3150/ 1.3200.
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Comment by mian nadeem on March 14, 2013 at 10:30am -
Hi Vladimir sir gold can i buy at 1586
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Comment by mian nadeem on March 14, 2013 at 10:31am
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?
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Comment by Georgi Vukov on March 14, 2013 at 10:58am
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Buy above 1.2960 SL @ 1.2940 if there is a double bottom in place @ 1.2925.
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Comment by Ronald Mewengkang on March 14, 2013 at 10:59am -
i think 1585 is still a good entry pount for a buy position. should keep SL @1575 though.
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Comment by Yasser sorour on March 14, 2013 at 11:05am -
Very Good forecast
me too short @1.2948 waiting 1.2900
Thanks a lot Mr Vladimir
......
Mr Georgi Vukov you have a good forecast too waiting for ur post or a comment every day .... thanks 4 u all
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