Happy New Year 2013 to all of you, and i wish you to have more profit this year :)
As i've said in the last days of the 2012 dollar usually is strong during the first week of the new year. Yesterday's move higher was just to confuse little experienced and to make a good price to sell. There are serious troubles for the bulls near 1.3300 and 1.3350 seems far away. Currently the price finally broke the Ichimoku cloud at H4 frame indicators are pointing to the downside with target 1.3030. Daily frame shows that bulls are giving up and also the target is 1.2980-1.3010. Weekly overall support is @ 1.2860, breaking below will take us at least to 1.2600.
Remember what Merkel has said in the last hours of 2012 - "be more patient, because the crisis is far from over" and please pay attention to the fact that when the German chancellor says the things are bad - they really are bad. Soon many will realize that - be the first to know it.
For today it was better to sell at 1.3200 but if you're late like me, you may sell at any price near 1.3150 with for example 20 pips stop and target below 1.3100. There will be a little hesitation around 1.3110 with a possible pullback to the upside then the price have to go to the downside with target 1.3030. Notice that we have some minor support at 1.3090 too.
GOLD entered in a recovery mode, but restoring the bullish trend is still far above. We may fully restore the bullish trend only on a daily close above 1715.
SHORT EUR below 1.3150 SL 1.3170 TP 1.3110-1.3090-1.3030
LONG EUR only if today's close is above 1.3220 which i really doubt
LONG GOLD above 1771 SL 1767 TP 1700-1705
SHORT GOLD below 1662 SL 1770 TP 1650 and below