EUR reacted calmly on mixed data released yesterday. There was a very small amount of profit taking and the major players still prefer to hold their LONGs, that is why the pair downside has stopped ahead of the well known support area of 1.3730. I think that all are waiting for the FED next move and want to hear it from FED next week. Maybe the big profit taking will be just before Chritmas. For now the EUR consolidates in a narrow range between 1.3730-1.3770.
As expected GOLD wasn't…Continue
Higher and higher we go and noone cares about the economic data, until today. It is quite important day today as it may change the bullish picture. The pair seems supported by the 1.3770 level,which means that loosing it will trigger a massive profit taking from LONGs, just before the Christmas holidays. Banks have now enough extra cash from this long trend for their owners, so they can spend the New Year's holiday where ever they want :) But aside from the holiday things let's take a quick…Continue
EUR is building a staircase slowly to the 1.3800 level. The pair completely ignores the fundamental data which is not in favor of the EUR. M30,H1,H4 and Daily indicators are extremely bullish, they even do not show any sign of any correction in near future. The market players continue to inflate the bubble, and the oficials continue to say there is no bubble. The last thing which may change the picture is consumer spending this Thursday.So we have to watch this with a great interest. Until…Continue
EUR reached 1.3720 with today's open, however the EUR is too overestimated and i doubt the price to stay longer above 1.3700 level. As long as the price is above 1.3670 further upside is possible, but i expect a deeper correction once below 1.3670 - at least to 1.3615. Weekly,Daily and H4 indicators are pointing to the upside while H1 entered in a correction mode.
GOLD has stopped above 1220 and below 1230 after Fridays sideways move between 1212 and 1242, we have a small body candle…Continue