Gold unexpectedly broke all resistance to hit 1250. This week's candles formed a bottoming pattern so we should start to build a short term recovery to unwind the oversold scenario. Any weakness today therefore is a buying opportunity with support at 1229/27 likely to hold the downside. However below 1219 risks a retest of the low this week at 1215/12 for a second buying opportunity today. Fibonacci resistance at 1247 & short term trend line resistance at 1252 so this area may hold a move…See More
EUR has made another test of support area 1.3530 and it capped the downside once again. The area was bulls protected and the price quickly returned back to the resistance 1.3590. This morning that resistance was broken and the next 1.3640 has been reached. In fact i was expecting this to happen yesterday, but the market prefered to test the support once again before going to the upside. For today the last resistance is 1.3695 if we break there we shall exit the Ichimoku cloud again, but if…See More
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