For now, here are my currency targets, but I expect the markets to start moving today.
STG/USD: Buy at 1.5492 –
Target 1.5825
EUR/USD: Buy at 1.2620 –
Target 1.2820
USD/CHF: Sell at 1.1831 –
Target 1.1660
Gold: Buy at 725 – Target
791.50
USD/PLN – EUR/PLN: I expect USD/PLN as well as EUR/PLN to remain range bound making no new lows, for now.
All positions should be with tight stops because if these levels are broken the market will test previous lows in the case of EUR and STG.
Now about the Dow Jones Industrial Average. Although the Dow has dropped in the last two days, I expect it to bounce back tomorrow and progress to a target of 10,000 in the coming weeks. But this needs more commentary, which I’ll provide over the weekend.
Disclaimer: Any opinions, news, research, analyses, prices, or other information provided by the author are provided as general market commentary, and do not constitute investment advice. Neither IFB nor the author is liable for any loss or damages, including without limitation, any loss of profit which may arise directly or indirectly from use of or reliance on such information. Investors are advised to consult their broker before making a decision on buying or selling a particular security, product or currency pair. These articles are opinions and should be treated as such.
