EUR/USD & GOLD forecast 20.09.2012
EUR moved up and down yesterday as forecasted, and first attemt to break below 1.30 was unsuccessful. Now the second is successful as many investors start to reconsider their long positions. For today plenty of economic data will be released, enough to move the market in either direction. For the time of writing the mood is bearish with target of 1.2940-50, and if broken it will go another 100 pips below. Only a clear break above 1.3090 will restore the upside. GOLD again consolidates, enter LONG above 1755 with 5-6 USD SL for 1788.
For today SHORT EUR below 1.3030 SL 1.3065 TP 1.2940 and 1.2880 and 1.2850
LONG GOLD above 1755 SL1750 TP 1785-90
Good luck!
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Comment by Vladimir Mihaylov on September 20, 2012 at 7:08am -
first target reached with the beginnig of european session and because bad PMI in France, more downside to follow
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Comment by Jacobson MAthew on September 20, 2012 at 10:27am -
do u see correlation between gold & euro ?
euro is on the way down, gold to follow
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Comment by Vladimir Mihaylov on September 20, 2012 at 10:45am
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GOLD goes down because of the dollar rally, now is in consolidation i think a recovery towards 1770 later today will follow
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