EUR dropped to 1.3185 this morning and opened the week with a huge downside gap. Today the pair may consolidate around 1.3200, and tomorrow to start a recovery. This week is the end of the month trade, so i expect some profit taking from Short after Wednesday. Weekly, Daily and H4 indicators are bearish but are already turning flat to bullish, so i think we are going to have a recovery soon, although opening with such a gap lower is not a good sign.
GOLD was not able to close the week…Continue
EUR has lost almost 200 pips since Monday and the pair despreately needs a correction but still there are no any signs of a possible correction. EUR is in a free fall state, after bad data from the EU and Germany, and better news from the US. Dollar is stronger than ever but i wonder if this is a temporary strength or the start of continuous EUR weakness. The pair needs a correction at least to 1.3330-50, and maybe more next week. But first we need to deal with the 1.3290-1.3310 resistance…Continue
After several failed attempts to break 1.3400, te EUR slided down below the 1.3330 support reaching 1.3312 by the moment of writing. The area between 1.3295-1.3310 seems well protected and it will be difficult to break before tomorrow's FED decision. I think that the market is currently consuming tomorrow's news. So it is quite possible to witness a risk aversion tomorrow, reaching 1.3470-1.3500.
GOLD is trying to stay above 1292 support but breaking below will increase the downside .…Continue
EUR did not succeed to close daily trade above 1.3380 the whole week. It moved in a small range between 1.3340 and 1.3415.Breaking of either will boost the further move in the same direction. However for now the pair seems locked inside.
GOLD has made a quick test of 1292 support but returnes fast above the previous 1305 support.Any drop below 1300 again may cause further drop to 1276 and 1254 for example.
NZD preserves the chances of upside recovery as long as the price is…Continue