EUR/USD & GOLD forecast 22.11.2012

EUR continued bullish move as forecasted and this morning we have a new maximum @ 1.2867. Currently a pullback is in place and the price returned to 1.2840. The upside is very slow and difficult as the european financial ministers still have differences in taking a decision about the next bailout money transfer to Greece. Next meeting will be on Monday, so until then we will not be able to gain above 1.2885-1.2895 and the best thing to do is to use that for a sell point with target 1.2800 or 1.2760.

GOLD still is trading within a very tiny range, so if you make a profit just take it and run. A resistance is staying @ 1732 and another one @1740. We need a clear close above 1740 to restore the upside, for now GOLD is in a consolidation mode.

For today:

SHORT EUR below 1.2895 SL 1.2925 TP 1.2800-1.2760

if we have a downmove, then

LONG EUR above 1.2770 SL 1.2740 TP 1.2900

LONG GOLD @ 1720 SL1717 TP1730

SHORT GOLD @1736 SL1740 TP 1720

Good luck!

Tags: EUR, GOLD, USD

5 members like this

Comment by Satish Kumar on November 22, 2012 at 5:51am: thanxx vladimir, :)

Comment by gladwin dsouza on November 22, 2012 at 6:39am: Good Morning Vladmir,Once again Thankx for your analysis , I like the word when you write in your blog "Make a profit and Run" it make me smile while u use the word....

Have a wonderful trading