EUR has reached my long targets from yesterday and is currently at the resistance line 1.2930 which is also the border of the ascending channel from 1.2047. Breaking above may happen only on dollar negative news from Mr.Bernarke, so untin that and FOMC decision i expect a range trade between 1.2860 and 1.2930, significant moves may happen in later american session or tomorrow.

GOLD is again in a stand-by, waiting for the dollar to choose direction.

For today:

LONG EUR…

EUR has found a temporary support at 1.2800, but we have still chances to go to 1.2700 this week, for this we need another test of 1.2900. The price is currently very shy going upside, and seems that at any moment this would reverse to the downside again.Tomorrow will be the key as EU leaders' summit starts and later in the day mr.Bernarke will speak, finally the FOMC decision which will be a no surprise. With some good EU data and a little help from mr.Bernarke EUR may reach the 1.2990 area…

For today:

SHORT EUR below 1.2850 SL 1.2860 TP 1.2800-1.2770

LONG EUR above 1.2860 SL 1.2840 TP 1.2905-1.2925-1.2950

SHORT GOLD below 1370 SL 1375 TP 1300-1290

Good luck!

EUR has bounced back from the fibo level at 1.2915 and currently is trading around support of 1.2850. We are in a quite interesting technical situation. 1.2850 is a serios support level, breaking below have to take us far more down, breaking above that again will be hard too. Technically breaking of 1.2850 will take us at least 150 pips down to 1.2700, downside may extend even to 1.2620. One of these both has to bounce and the price will reverse to the upside reaching 1.3000 once again…