FORECAST EUR/USD GBP/USD & GOLD H4

GOLD H4
















The gold is on the way up, and it is supposed to reach the local target
– resistance level 1025 . After having a rest at the higher bound of
broken daily uptrend, the gold started some consolidation . In case the gold
rises above level 1004, the up-trending momentum will gain strength again.
Support is found at level 990. Otherwise, if the market drops below level 986,
it will get to support 974 and the correction will endure. But if the gold succeeds
going under level 969, the uptrend will be lost and soon replaced with a downtrend,
which will has the dropping target set to level 948.


GBP/USD H4
















The pair is trading along the uptrend, which has a growth target set to
a rather distant level 1.6900. Although that level is far away there are
no serious resistances on the way up, so reaching that level is completely real.
In order to continue the uptrend the pair needs to get over resistance 1.6590,
while the nearest support is found at level 1.6535. The next support is located
at level 1.6400 – a strong key level. We can speak about changing of current
uptrend to a downtrend only if the pair drops below level 1.6365,
and in such case the dropping target will be set to level 1.6170.


EUR/USD H4
















The pair is trading along the uptrend, which has a local growth target at level 1.4635 .
In case that level is passed, the next target level will be set to resistance 1.4719
(2008.12.18 high). It’s also worth reminding that after the pair rose above level 1.4550,
it had broken the higher bound of an “up-trending triangle” figure,
so the strategic target of the pair is now set to resistance level 1.4935.

If any correction happens, the pair is supposed to find the support at level 1.4515.
Then the growth towards 1.4635 will be resumed. Otherwise,
if the pair drops below level 1.4465, we can state the trend’s turn
and the first local dropping target will be set to level 1.4355 .