EUR has continued upside progress as expected, and in short term it will try to break 1.3140, if unsuccessful the price will return to 1.3050 support. You have to watch this support zone 1.3030-1.3050, if the price breaks that zone enter SHORT for 1.2940 and below. If we break 1.3140 next stop will be at 1.3180-1.3200. Many analysts are forecasting a fail there. Technically the EUR has the potential to reach 1.3320-1.3350 before Christmas, but let's see what will happen. Please remember that the things in eurozone are pretty bad and noone does anything to deal with the debt crisis, unemployment grows with every month too. In the USA the problems with the fiscal policy agreement almost have killed the dollar. Some good EU PMI data and some bad ADP and ISM from the US will finish the dollar today.

GOLD is not attractive at the moment for the investors, avoid longs for now.

For today:

LONG EUR above 1.3100 SL 1.3080 TP 1.3140- 1.3180- 1.3200

SHORT EUR @ 1.3180 SL 1.3200 TP 1.3120 and below 1.3100

SHORT GOLD below 1712 SL 1715 TP below 1700 (support is at 1665-70)

Good luck!

Views: 2019

Tags: EUR, GOLD, USD

Comment by Saud Shah on December 5, 2012 at 2:10pm
anyone short gold?

Comment

You need to be a member of Forex Social Network to add comments!

Join Forex Social Network

Members

© 2014   Created by FXStreet.

Badges  |  Report an Issue  |  Terms of Service

Offline

Live Video