In the last forecast I was talking about a strong resistance of 1480 and a possible re-test of 1280-1320. Now we arrived at those levels…so the question is if these levels hold up. If they do, we should see 1450+ again. If not, there might be good buying opportunities 100 pips lower or so, around 1180-1200. The Ukraine crisis might cause some “fake” drops below the current “ECB” levels. I say fake, because I expect EU to go up towards 1600 eventually, based on both fundamental and technical analysis. So I am looking into buying, the only question is where and when. The only delay is caused by US intelligence which is pushing for a conflict in Ukraine for some reason. All week we have contradicting information from Ukraine and the US. US intelligence wants either a conflict or at least a tension for some time. We can only speculate why, but the message is clear, I have been reading “news” all week, one contradicting another every 5 minutes and the only side escalating this is the US side. So next week this clown show might continue and we will see what the market does with it. De-escalating the tensions and coming up with diplomatic solutions is the best option for everyone, obviously, so lets hope for some common sense. Trade with caution!
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