Yesterday EUR bounced from 1.3145 resistance and tested the support @ 1.3050. I think EUR will remain locked within 1.3070-1.3145 range until the ECB's decision about interest rate tomorrow. It is expected ECB to keep the rate unchanged, but i think there will be a rate cut in february or march. Keeping rate unchanged in January will support the EUR and breaking above 1.3150 will take us to 1.3230 and from there to test 1.3300 again, however another fail of 1.3150 may take the price below 1.3000. Strong support is building around 1.3000-1.2990 and below is 1.2950 and 1.2900. Only below 1.2780 we may face 1.2600. To the upside still bullish on Monthly and Weekly, bearish on the others. Today i expect more of the yesterday's, GOLD also tries to find solid support, for now still negative.

For today:

SHORT GOLD below 1662 SL 1666 TP 1648 and below

LONG GOLD above 1671 SL 1666 TP 1685 and above

LONG EUR above 1.3070 SL 1.3050 TP 1.3130-40

SHORT EUR below 1.3145 SL 1.3155 TP 1.3100

Good luck!

Views: 1213

Comment by shahid ramzan on January 9, 2013 at 6:38am

nice validimir it good one


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