Last night riot in Egypt has caused appreciation for US Dollar, Gold (safe haven), Oil and some others commodity. I already expect EURUSD will go down as I said in my previous post.. seems technical and fundamental move in the same way.. but I believe what happen last night is where fundamental had it day.
I am expecting further bearish for EURUSD, and will target at least the price to hit the red area as on the chart above. Break the lower red trendline will bring further dip and far stronger US Dollar where long term target will be 1.20. Trade on your own risk, and at the same time I will closely monitoring Egypt issue.
Oil price fly high to 89.45 last night, but still did not break its previous high. Anyway.. I expect that oil price will continue to going up, and may test it previous high at 92 per barrel. Quite strong resistance level, if break that level will bring further uptrend.
Well.. last night, fundamental had it day.
Do you are still remember when riot in Greece happened in May 2010? I still remember how the riot in Greece give very big impact for EURJPY, EURUSD and other commodities. Will it happen again?
Oh GOD, I can’t wait for Monday!