EUR has reversed Monday's gain and is trying to break the 1.29 support, next support is @ 1.2850 and then 1.28 where is the 261.8% fibo from 1.4680. For now this level serves as strong support and breaking it will be hard. There will be no break before 15 of Jan, because some important decisions for Greece will be taken since 15 of Jan. until then we shall hover around 1.2850-1.2950 . Range trade is expected, only on a daily close above 1.3070 we may see 1.32, but for now i don't see that to happen. On H4 we are below MA14 and below a wide negative Ichimoku brekaing it will be hard too. Enter SHORT below 1.2980, and avoid entering LONG. On monthly close below 1.28 we may reach 1.250 very soon. But i's just a wishful thinking for now.
GOLD is boosed by now, but this may suddenly stop and reverse around 1625-1630. If you have some money enter SHORT around 1638 with 10 stop and target 1600.
Remember take decisions for YOUR money on your own, my forecast is for information purposes only, do not blame on me if you loose any money due to my incorrect forecasting.
Comment by Tahir Khan on January 5, 2012 at 6:53am Almost identical analysis. We both must be looking at same picture I guess.
Good Drills..
GL..
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