Euro-USD Chart of 7 June 2012, Thursday, 8.17am
Direction has changed with confirmation for the coming 1-2 months for world financial markets (Forex against USD, major Asian, European and US Indices, Commodities and Stocks). Bullish upside attack locked on and intentions confirmed. Too many people shorting Euros, those late shortists will not be able to survive but wiped out in the immediate term.
Looking to long Euros at 1.25000, 1.25050, 1.25100, 1.25150, 1.25200 and 1.25250 with very loose stop loss and to hold for a longer term. Looking to long Commodity Stocks such as Sakari Resources at S$1.25-S$1.28 for technical backtests. Commodity Stocks in Australia, Asia, Europe and US will be whacked up in the next few weeks, including this week.
Euro-USD:
1st Target: 1.27000-1.27500 (Take Half of all longs profits)
2nd Target: 1.30816 (Take remaining profits)
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