EUR/USD updated forecast 19.07.2012
After the quiet Asian session EUR has started the European with some gains and hopes for bad US data again to make progress to the upside. If we take a look at H4 we can see EUR is inside a wide negative Ichimoku and trying to break it higher, but it's too early so falls back to 1.2220 are quite possible. Somewhere around 1.2390 there is a strong resistance, we may find there the upper border of the Ichimoku cloud also. EUR now trades @ 1.2310 but in the following hours to the beginning of american session i expect a bullback to 1.2250, then a new jump higher to break 1.2325 on a bad US data. Target for today is 1.2390-1.2400 and then maybe a pullback to 1.2330-40, if a stronger impulse we may reach 1.2445 but no more. Somewhere above 1.2450 look for a good price to sell EUR.
Gold is in a consolidation mode and may remain in it some 2 or 3 weeks more.
Here are my positions: LONG EUR @ 1.2310 TP 1.2390 TP 1.2440 SL below 1.22 (that's really quite big SL, if you like place smaller)
LONG GOLD @ 1580 TP above 1900 , SL 1470 - this is a long term position with time frame at least 6 months or even more
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Comment by Peter jcp on July 19, 2012 at 8:50am -
Hi Vladimir - So far at nearly 10am UK time ( 5am NY) I think you have made a good call on that pullback from the high of 1.2324. Currently trying to break under 2260 and then supports at 2245 -50. Will they hold for the challenge then back up above 2324 for higher ?
Have a good day
Regards
Peter
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Comment by Fx Master on July 19, 2012 at 9:01am -
im long since yesterday @2250.. should have closed my position at 2310!!
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Comment by Vladimir Mihaylov on July 19, 2012 at 9:26am -
Hold your LONG, quit if H4 close below 1.2220. I think we shall go more than 1.2310 if not today,then tomorrow, this afternoon some big moves are expected. Good support @ 1.2250, may be broken on godd US data,but will be followed by recovery quickly i think.
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Comment by Andrey on July 19, 2012 at 12:25pm -
спасибо, Владимир
Comment
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