EUR has reached my first 2 short targets last Friday.Today we start negative also reaching the small negative Ichimoku on Daily. The support area is pretty wide here from 1.3560 to 1.3540, if it is broken downside pressure over the EUR will increase. But i think soon it is time for a small correction higher. Currently EUR doesn't give any signs of correction higher if 1.3540 is broken the next target will be 1.3360 with 1.3405 intermediate support. This is on a Daily basis.

Currently all time frames are heavy negative but we are at important support which is the border of the ascending channel. Breaking of 1.3540 will destroy the upside channel on Weekly which started at the beginnig of July 2012. Breaking below 1.3170 will mean the trend has reversed and will set the long term target to 1.2440.

GOLD is progressing slowly to 1252 resistance but it seems that it will bounce back We need to break the 1265 to continue to 1300 and above.

For today:

SHORT EUR below 1.3620 SL 1.3640 TP 1.3540-1.3510-1.3485-1.3450

LONG EUR above 1.3600 SL 1.3590 TP 1.3640-1.3660-1.3685

SHORT GOLD below 1235 SL 1240 TP 1222-1215-1200

LONG GOLD above 1240 SL 1235 TP 1252-1260-1280

Good luck!

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Comment by Asim Rehman on January 6, 2014 at 3:24pm

Hi, Vladimir, can you tell us why gold has unusual move from 1247 to 1212 then up again

Comment by Vladimir Mihaylov on January 6, 2014 at 3:58pm

GOLD volatility is because of the disappointing data from the US. From this move we can assume that 1210-12 is the major reversal point, and if broken to the downside we shall go even deeper. Resistance is 1252, then 1272. as long as we are below 1252 more downside can be expected

Comment by Asim Rehman on January 6, 2014 at 4:56pm

thanks Vladimir


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