EUR has made a sharp recovery after some leakage about today's Draghi's plan was released and sent the EUR in a high level consolidation mode. For today it will be quite difficult to make any forecast, as we shall see movements in either directions, quick and powerfull moves. Today ECB will make a rate decision and after that will be the press conference where mr.Draghi is expected to present his new plan involving unlimited bond buying. My expectations are that EUR will fall before the speech, to test 1.2480-1.2500 . I do not know if we shall go to there but it's quite possible, but EUR will test 1.2540-50 for sure, use any dip for buying opportunities. I'm expecting mr.Draghi to support the EUR and to reach 1.2710 today, even 1.2730-40 but no more, a pullback of no more than 40-50 pips too. For this morning i'm SHORT, EUR is not likely to break 1.2630-40 resistance before ECB rate decision or mr.Draghi's speech. So the only way is down for the EUR, how much i'm not able to say, supports are 1.2570, 1.2550, 1.2530, 1.2500 and 1.2480, resistances are 1.2610, 1.2636, 1.2670, 1.2710, 1.2730-40 strong resistance area.
Buy at support and sell at the resistances,for today my advice is to use the "hit and run" strategy, if you make any good provit take it and run away, when you see a strong move in any direction enter again and on making profit take it again and run.
High volatility expected today, so my yesterday's positions are vaid for today too:
LONG EUR above 1.2480, SL below 1.2440 TP above 1.27
LONG GOLD above 1685, SL below 1682 TP above 1720
GOLD is prepaired for a jump higher,despite short living drops which may suddenly occur, use them to buy GOLD.
Any comments and questions are welcomed, wish you luck!