All targets from the august forecast have been hit, you can see it HERE. But now, when everyone is an EU and GU bear, its time to look for a correction upwards, to take “them” out, before another downmove. On EU I am looking at 1685 and 1750 as possible bull targets and on GU 2900-2950. EU’s upmove will be probably more limited than GU’s, for every pip EU makes upwards, I expect GU to make double of that…since EG turned bearish and should drop back towards 9000 and below. Long term EG can drop even towards 8800, 8500 or lower, so GU longs should be a better choice over EU longs currently. If you check the weekly chart…GU is at an important level, which was resistance before and now turned support. It can drop further, but even if, I expect it to spike above 2900 afterwards. Lets see what London decides on monday, because GU can turn from a strong bear to a strong bull, or the opposite, very easily, we have seen it in the past. Last week, London went full bear right away…this week might be the opposite, we will see. If we go up, I expect the price to slow down between 2900-2950, or below 3000…and after some consolidation break above 3000 in october.
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