Another leg down yesterday for the EUR. All this shows that EUR is feeling OK into the big Daily triangle and feeling bad out of it. But the problem is that we are very close to the end of that triangle and the EUR should choose a direction soon (till the end of the nex week). Today's trade will be like yesterday's - in a narrow rangle hovering between 1.4380 and 1.4280-70. Maybe we shall close this week somewhere above 1.43. As I've forecasted yesterday's evening there was a test of 1.4330 and it failed to hold so now EUR is trading @ 1.4350-60. I'm expecting it to go to 1.4380 even to 1.4407 but the last will definitely hold and will push the price back to 1.4340-50.
We have a flat consolidation on GOLD, it's possible to test again 1625 but not necessary. GOLD buyers are running out of gas. If an agreement in USA is a fact we may see a sharp EUR and GOLD fall, for GOLD it will go below 1580 but not at the first try. On the second try you may enter SHORT below 1580. It's possible to enter SHORT above 1625, but place STOPS .
For today the consumer spending will be released for the USA - that was the thing who pulled out USA from the last big depression. But now the unemployment is very high and the spending is low, and also they do not want to reach an agreement. Plenty of data for the Europe too so it's time for the daily positions, here they are:
For today you may enter SHORT near 1.44 with 40 pips STOP , once above 1.4440 better STOP, add to SHORT below 1.4260. First target is 1.4170, then 1.4120 and the last 1.4040. Remember that once above 1.4430-40 it will take us very fast to 1.4520 where we have failed last time. Today is the end of the week and the end of the month, so a high volatility is expected. For now the price still confirms the H&S formation on H4. That suggests going down again, but the indicators show mixed signals, so be very carefull there will be a tennis day today, with ups and downs. Have a successfull trading, any questions and comments are welcomed, thanks in advance!
P.S. there are rumors that voting in the USA will be postponed - (source Reuters)