Eur/Usd, Gbp/Usd & Gold Forecast (23 June 2009)

EUR/USD H4
The pair is being traded along side trend that is turning
to a downtrend due to the pair's lowering below level 1.3900.
In addition, the trading goes within a "down-trending triangle"
that implies developing of a downtrend with lowering target
set to support level 1.3550, which is the main lowering target by the moment.
However, execution of "triangle" upon exit below level 1.3690
will empower developing of a more deep downtrend,
which will have lowering target set to level of a strong support 1.3285,
and also probably to 1.3160. But those levels should be considered later,
basing on situation over the market. Up to this moment,
the situation in dollar is generally saying about dropping to level 1.3550,
and we should be expecting that to happen in nearest future.
















GBP/USD H4
The pair reached resistance level 1.6580, what caused very massive sells. After that it went under level 1.6460, clearing the way for dropping to support 1.6250 that the pair is currently moving to. Basically, situation is favorable for lowering below level 1.6250 after passing support 1.6190 (the minimum of 06/18/09). Breaking of support 1.6190 will also set the lowering target to level 1.6050.
















GOLD H4
Gold already had lowering target set to level 903 by the time it broke level 944. Now, after dropping below level 931 the pair confirmed its intention to reach that target. What is more, the lowering may move gold even deeper - to level 888, if support level 903 will be passed on the way down.