Another day of upmove and downmove has passed, again with small volatility. EUR is still in a downside channel, however for now 1.2660 holds. Again bad data from Germany, which is good because ECB in fact needs a cheap EUR, but the speculations about the start of ECB bond buying  have done a bad favor increasing the price, which does much more difficulties for the countries in trouble. We are very near to the positive Ichimoku bottom @ 1.2660, break below will take us to 1.2600 and maybe below who knows. But i think it's too early for a break below  positive Icimoku and the price in following days will recover to 1.2900 and a little above. For testing and breaking 1.3000 we need a strongly positive news from EU or a strongly negative news for the dollar, but there still aren't any. First resistance comes @ 1.2750, second @ 1.2810. I do not expect break of 1.2810 today.

GOLD is consolidating and waiting for a signal from the EUR, but as the dollar is too strong for some long time GOLD is not able to do a rally.

Today we shall have some very important US data, and some mid important data from France and Spain, EUR has gained somehow, but this is just profit taking, EUR is still in a downside channel and highly pressured to the downside.

For today:

SHORT EUR @ 1.2740-50 SL1.2760-65 TP 1.2660 (EUR is trying to recover, be careful, stop may be hit here)

SHORT EUR below 1.2700 SL 1.2730 TP below 1.2660 maybe around 1.2600

if stop is hit wait for the price to go to 1.2790-1.2810 and enter SHORT again

LONG GOLD above 1720 SL 1716 TP 1736-40

SHORT GOLD below 1712 SL 1718 TP 1700 and below

Good luck!

Views: 552

Tags: EUR, GOLD, USD

Comment by john richmond on November 14, 2012 at 6:22am
Thanks for your forecast. your ichimoku is base on which time frame?
Comment by gladwin dsouza on November 14, 2012 at 7:16am

I dont think market will touch 1.2740 

now @ 1.2714 ... everybody/s prediction , calculation will fail... let c

I like Peter B, analysics, he recommends short pips... but i touches to that level.

Comment by Vladimir Mihaylov on November 14, 2012 at 7:35am

@ John - Ichimoku is based on Daily frame

@ Gladwin - my forecast is also SHORT, but i prefer to enter short at the upper border of the downside channel, of course you can enter everywhere, but the risk is bigger. You think we are not going above 1.2740, but most important is what the market thinks ;)

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