EUR declined after making a new top due to the weak data from Germany and the better than expected ISM data. Currently the EU currency is locked inside the support area 1.3500-1.3520. Breaking below 1.3480 will increase the pressure over the EUR and on successful break next target will be around 1.3360. To the upside we need a successful break of 1.3555 and the move will continue to 1.3620-1.3660-1.3710-1.3740. All this will depend on mr.Bernanke's speech later today. With the expectations of FED's tapering and better NFP combined with bad data from Germany from yesterday - the outlook for the pair is negative. However we may witness a short term jump higher but this will be used mainly to open SHORTs at a better price. The other possibility is bad NFP and FED doing nothing again - this will make the EUR jump to 1.3710 in no time and to set the next target as 1.3840.
GOLD dropped yesterday because of the hiking tax for GOLD in India, such events cannot be forecasted and i hope that you haven't lost money because of that. The outlook for GOLD has changed a little bit after yesterday's drop. This month will be critical for GOLD. On breaking below 1270 the metal will look for support around 1190 if that is lost too next will be around psychological 1000. If we reach there the things will become very dangerous because there will be a great possibility to drop to 700, which will be a disaster for GOLD buyers like China for example. What will happen we shall see till the end of this year.
LONG EUR above 1.3490 SL 1.3475 TP 1.3595-1.3620-1.3660-1.3700-1.3730-1.3760
SHORT EUR below 1.3470 SL 1.3485 TP 1.3410-1.3365-1.3330-1.3285-1.3250
SHORT GOLD below 1300 SL 1307 TP 1280-1260-1220-1205
LONG GOLD above 1315 SL 1308 TP 1325-1345-1380-1406