Gold managed to emerge as one of the winners from the recent market turmoil. On the other side of the equation, the euro suffered from the removal of the Swiss bid. The team at Bank of America Merrill Lynch analyzes the charts and sets targets: Here is their view, courtesy of eFXnews: Gold in Euros ( XAU/EUR) continues to trend higher towards its measured target of 1100, notes Bank of America Merrill Lynch. “While this could be a near term sticking point, on a longer term basis XAU/EUR has significant topside,” BofA adds. “Indeed, the Gold (in USD) break above 1255/1253 resistance (Oct-21 high and the 200d); clears the way for 1345 and beyond,” BofA projects. Meawhile, with the break of 1.2000 in EUR/CHF, BofA reiterates its bearish EUR view. “EUR/USD could see a pause into 1.1555/1.1500 support, but bounces should be sold. Gains should not exceed 1.1767/1.1841. We continue to target 1.1212 (61.8% of the 2000/2008 advance) ahead of 1.0588/1.0283,” BofA advises Meanwhile BofA remains short EUR/GBP for 0.7582, ahead of 0.7539 and potentially below. For lots more FX trades from major banks, sign up to eFXplus By signing up to eFXplus via the link above, you are directly supporting Forex Crunch. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Opinions share Read Next USDC/CAD shoots up to 1.2030 Yohay Elam 7 years Gold managed to emerge as one of the winners from the recent market turmoil. On the other side of the equation, the euro suffered from the removal of the Swiss bid. The team at Bank of America Merrill Lynch analyzes the charts and sets targets: Here is their view, courtesy of eFXnews: Gold in Euros ( XAU/EUR) continues to trend higher towards its measured target of 1100, notes Bank of America Merrill Lynch. "While this could be a near term sticking point, on a longer term basis XAU/EUR has significant topside," BofA adds. "Indeed, the Gold (in USD) break above… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
