EUR/USD Forex Signal Forecast

Nov. 22, 2009 - PRLog -- Both EUR/USD and AUD/USD just touched 50 MA which stands for pretty critical level to determine the future direction of dollar. Double top formed on both pairs remains valid.
Daily charts show that both pairs are not ready to break downwards yet. In our opinion there will be another up leg on eur and aud before they move down. That break will be a turning point and will keep dollar bullish for the next several months.
We would like to position ourselfs into those trades long term. We are set short at eur/usd and now we will wait for aud/usd to give us another entry around 0.9230 area with target around 0.7600 area.
Another long term trade we would like to take is long USD/JPY. It remains bearish for the moment as critical bottom 87.15 is exposed. Althrough it is finding some strong support 88.80 we will wait until its clearer to enter long with small SL.

We do thing that the last months of 2009 are the turning point on the global markets.
Dollar hiting extreme lows, gold oversold BIG TIME, Dow Jones and Nikkei are due at least 10% correction as stocks seem to be too expensive for investors at the moment.

It all come to good opportunity for some nice trades with low risk and excellent reward.
Obviously we might be wrong and dollar will continue to fall and gold and stocks to rise but stop loss orders are in place.
RISK NO MORE THAN 3-5%

There is always another opportunity to take on the market.

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