Today the "Troika" starts work in Greece as the country is threatened again. Situation in Hungary is pretty dangerous too - seems that Eurozone is going to beak apart and it looks to me like a building after a huge earthquake. It's very dangerous to stay inside. All this pressures EUR and after some 150-200 pips recovery EUR is going to take to the south once again. But the level 1.2640-60 has proved a very strong support and investors are unlikely to go below for now. Because of that i expect some correction to the upside, but i'll avoid entering LONG. Every upside will stop around 1.2860 and only if for some reason we close the day above 1.2910 (which is weird in the current situation) we shall have a chance to go even to 1.3170. Enter SHORT around 1.2850 with 40 pips stop. On daily close below 1.26 we shall target 1.25 and even below. At the end of this month or beginning of the next i'm expecting more serious recovery of the EUR back above 1.30 with some consolidation around 1.30 and then in March another attack of 1.26.

On GOLD watch the 1690 level and enter SHORT around there, placing STOP is a must. It's very possible to touch 1685-90 and to bounce back. Break is also possible so place stops!

Have a nice trade! Any comments and questions are welcomed.

Views: 496

Comment by MarlonF on January 17, 2012 at 7:20am

thanks for the update mate..

Comment by Vladimir Mihaylov on January 17, 2012 at 1:29pm

EUR has found support with the better than expected data from Germany and Chinese economy. However this will be short term recovery which will be followed by another deeper fall. Enter SHORT below 1.2850 with 40 pips stop. Above 1.2910 better exit any SHORT.

Comment by Shaji on January 17, 2012 at 2:46pm

Dear Viladimir,

How long can we expect for the gold to go up???

Comment by Vladimir Mihaylov on January 17, 2012 at 3:51pm

Oh, it's difficult to say how long GOLD will go up, maybe the correct question will be how long will go down. The economical situation is unstable and at any moment investors may rush for gold, so be carefull taking any short position. You may enter short as mentioned above. Only on weekly close above 1720 we may extend the upside, but gold moves very sharply sometimes so placing stops is a must. For now Gold will go up to 1685-90 but may extend to 1710 or may not, so enter short around 1685 and place stop, and then wait for 1630.


You need to be a member of Forex Social Network to add comments!


© 2018   Created by FXStreet.   Powered by

Badges  |  Report an Issue  |  Terms of Service


Live Video