My Forecast

12:30GMT The International Monetary Fund upgraded its 2010 global growth forecast on Thursday, citing robust expansion in Asia and renewed U.S. private demand, but warned the euro area's debt crisis posed a big risk to recovery.The IMF said the euro zone's sovereign financing problems and resulting financial market turbulence were significant challenges, especially with the web of financial and trade links connecting Europe to the world. However, a double-dip world recession was highly unlikely.The fund raised its 2010 global output forecast to 4.6 percent from 4.2 percent in April's review of the global economy, but kept its 2011 view unchanged at 4.3 percent.The world economy shrank 0.6 percent in 2009 as a result of the global financial crisis."What has happened in Europe is likely to slow down the path to recovery relative to what could have happened, but I think the chances of a double dip are very small, as you know we're forecasting fairly strong growth for the world economy this year," Olivier Blanchard, the IMF's chief economist, said at a briefing in Hong Kong for the organisation's latest World Economic Outlook and Global Financial Stability reports.

01:50GMT Good Morning Friends, I guess you don't need my forecast as prices look over-stretched. At this moment all our pairs are in UP trend reversal. I think players will try small down and again try UP before the big drop (long-term) we are all waiting for. Data releases are key especially BOE & ECB Interest rate releases will define the which extreme we are going to see.