EUR/USD & GOLD forecast 20.11.2012
EUR is still capped by the MA200 on Daily @ 1.2810-20. A Daily close above that level will take us to 1.2920, where will make some attempts to break the 1.2990 zone, if unsuccessful, then a drop to 1.2400 may follow. If now we break the resistance 1.2820 it will become a very important support. In future breaking lower of 1.2820-1.2800 will be a signal for a massive selling, please remember this!
My short term outlook for the EUR is bullish, and i mean bullish for the next several days, then i expect a reversal to the downside.
GOLD has closed the day above 1730 and this opens the way to the upside for the following days, together with the progress of the EUR. Range here is very tight, so it dangerous to trade gold right now. Resistance comes at 1740.
For today:
LONG EUR above 1.2755-65 SL 1.2730 TP 1.2830-1.2885
SHORT EUR below 1.2680 SL 1.2705 TP 1.2605
LONG GOLD above 1725 SL 1722 TP 1740
SHORT GOLD below 1710 SL 1715 TP 1695
Good luck!
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Comment by Rao Khassan on November 20, 2012 at 6:05am -
Hi Vladimir,
in general my view is based on the same significant points, but I think it's more likely 1.2820 resistance holds and we'll see decline from the current top.
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Comment by Giriprasad Krishnappa on November 20, 2012 at 9:10am -
@Rao Khassan
Hi sir, If reverses how many pips it can go down?
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Comment by Rao Khassan on November 20, 2012 at 10:05am
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Downside targets are - consequently: 1.2740 - 1.2710 - 1.2640
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Comment by Priyank Nevatia on November 23, 2012 at 3:44pm
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I wanted to congratulate you on your analysis of EURUSD. You were bang on target with your prediction of EURO trying above 1.2920 for 1.2990 area ... Now what we got to see is if it reverses from here as you mentioned or will it try higher.
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