After yesterday's push to 1.3140 EUR is silent and calm this morning currently trading very close below 1.31. EU summit starts today and the focus will be there, because there is no important data from the eurozone today. More interesting data will come from USA with the beginning of the american session. I do not expect Spain to request help today and tomorrow, because there is an important vote on Sunday, and from political point of view it will be insane to request help before that vote. Maybe friday's economic data will be a little bit europositive, but no any important decision is expected from this EU summit, so market will look for a better price to buy. So i expect drops to 1.3070 and to 1.3040 to be used as buying opportunities. Only on successful break of 1.3030-40 we risk fall to 1.2970 and below.

GOLD wasn't able to stay above 1750, until a daily close below 1760 further drops are possible. GOLD is in a corrective move, another leg down may even extend to 1715 and 1705.

For today:

LONG EUR above 1.3070 SL 1.3040 TP 1.3160-70, 1.3210, 1.3250

if stop is hit wait for the price to go back above 1.3070 and enter with the same position

SHORT EUR only below 1.2950 SL 1.2980 TP 1.28

LONG GOLD above 1715, SL 1708 TP 1745

SHORT GOLD below 1753 SL 1760 TP 1730-1720

Good luck!

Views: 455

Tags: EUR, GOLD, USD

Comment by Munish Seth on October 18, 2012 at 5:09am

Hi Vladimir

You are among the first to share the info ..thanks for the information

Comment

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

Join FXstreet.com Forex Social Network

Photos

  • Add Photos
  • View All

1 month trial

© 2013   Created by FXstreet.

Badges  |  Report an Issue  |  Terms of Service