USD is showing muscles these days, and all currencies including gold run from it like mice from a cat. Like i've said yesterday EUR needs a corrective move higher - it didn't happen yesterday so today will be the correction day. We need a confirmation for example H4 close above 1.2805-10 will be enough. First resistance is 1.2840-50, second and stronger is 1.2880-1.2900. That last will bounce and the prices will return to 1.2820, from where there will be two possibilities - first to attack 1.2900 again then 1.3030 and above, and the second will be another fall below 1.2800 with targer 1.27 - 1.26 and below. Currently EUR consolidates just below 1.2800 and indicators show bears are already tired and need a break.
GOLD has stopped the free fall, though is made another low @ 1672 yesterday, still vulnerable to more drops, but i'll repeat it today also i think 1650-60 will cap any drops and a new move higher will start soon.
Today there are presidential elections in USA but the eyes of most investors will look at the PMI data from the eurozone, if data is equal or better than forecasted that will help EUR a lot to recover from 2 days of heavy losses. If it is worse than forecasted look for a test of 1.2850 and fail there then fall will continue to 1.2700.
LONG EUR above 1.2780 SL 1.2760 TP 1.2850-1.2880
SHORT EUR below 1.2890 SL 1.2920 TP 1.2820-1.2800 and below
if break higher of 1.2850 fails SHORT EUR below 1.2800 SL 1.2825 TP 1.2700 and below
if 1.2740 is broken to the downside may enter SHORT around 1.2740 SL 1.2770 TP below 1.2700
Choppy trade possible around 1.2850 and 1.2880. I do not see break of 1.2900 for today for now, but it's just a beginning of the day, if it happens check for more updates.
SHORT GOLD around 1795 SL 1701 TP 1680-82
may try also LONG @ 1680 SL 1675 TP 1694 but there is a high risk here
Thank you all for LIKEs and support, i'll continue to share my forecsts trying to be precise as possible, remember there always can be unexpected news releases which may destroy my forecst so please place stops around 30-40 pips from your entry point. I'm giving you just the best entry points you may enter where you like, but remember not every entry point is good, if your stops are hit frequently maybe the problem is that you enter in the wrong moment. Try to enter as near as possible to forecasted values i hope the results will be better.