EUR failed to overtake 1.3030 yesterday and reversed back during the American session reaching 1.2930. Currently it's trading around this level but is ready to test 1.2830-40 area. I hope that you hold your SHORT positions from my yesterday's forecast, but if not you may enter SHORT below 1.2990 for 1.2840. We have very strong support around 1.2840 so every downside move will be stopped ahead of 1.2820-30. We may end the week there as the EUR will remain under heavy downside pressure, because of the speculations that ECB may cut the interest rate this time. If this happens  we shall go to 1.26 in no time and maybe below that. The euro positive news is that Greece won't leave the eurozone as Merkel spent some money of european taxpayers in a desperate try to save the EUR, next is Spain, and if Italy follows then Merkel should pray to the GOD to help, but i doubt if this will help too. 

GOLD has made a swing up and now gathered enough energy to break the 1700 so my forecast there is the same.

For today: EUR & GOLD still negative :(

SHORT EUR below 1.2990 SL 1.3020 TP 1.2850-40-30

My advice is DO NOT ENTER LONG until above 1.3050, you may enter LONG if we reach 1.2800-1.2770 area, because it's a buy limit zone.

SHORT GOLD below 1715 SL 1722 TP 1686

Good luck!

Views: 997

Tags: EUR, GOLD, USD

Comment by Francesc Riverola on October 26, 2012 at 9:01am

Hi Vladimir... Your today's blog post is being featured all across FXstreet.com... congratulations!

You are doing a terrific job too :)

Francesc

Comment by kuldep singh on October 26, 2012 at 12:18pm

Thank you. Vladimir ......

Comment by Jacobson MAthew on October 26, 2012 at 1:48pm

hi vladimir

any change in view

 

Comment by Vladimir Mihaylov on October 26, 2012 at 4:47pm

no change, forecast sill valid. Upside possible on ECB rate unchanged, otherwise 1.2600

Comment by paul chijioke okeke on October 26, 2012 at 5:22pm

hi Vladimir both on Gold also?

good job

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