EUR/USD: As long as the EUR/USD stays above 1.2850, it’s a buy. This is a crucial level and if broken, the euro will take some time to recover above 1.2850. The first target from 1.2850 is 1.3120 and if that is crossed then the euro could reach as high as 1.38.
USD/YEN: Continues to remain a sell. The target is 85 and then 80 agaist the USD. However, at 85 Yen there is a chance of the Bank of Japan stepping in.
GOLD: Gold continues to be strong, and if it moves higher than 870, then a rapid move to 1,000, or even more, can be expected. On the downside, I see gold well supported above 800 levels.
GBP/USD: GBP has achieved its target of 1.4 and has moved to its next target of 1.36/1.3580. From 1.3580 I expect a bounce to about 1.4 or 1.42. At that point, I expect the GBP to continue downwards again to 1.3.
OIL: Has more or less reached a bottom and can move higher to around $50-55 levels.
Dow: In my opinion, the Dow is highly oversold now and a move from 7,800 to 8,800/9,000 levels can be expected. This, however, does not mean that the Dow has found a bottom.
USD/PLN: Has reached its previous high of 3.3. I do not see the PLN getting weaker. If the EUR/USD rebounds from 1.2850, I would expect the PLN to move to 3 or even 2.90 against the USD.
