EUR finished yesterday below the open price and today's morning Asia dropped 30 pips more, as a whole EUR is trading calm close to the 1.3030 support. Next important zone is 1.2975-80 breaking of which will take us 50 pips more down or even to 1.2900-1.2880. To the upside first resistance is 1.3090 followed by the 1.3140-50 and then 1.3220. Abobe only 1.3300 but for today it's too far and i will not comment it further. On Daily second shoulder of the H&S model is still developing, but please notice that another push to 1.3140 is possible. For now the EUR and GOLD are trading in a very thin range, but later today will see some artificial volatility. With going up and down,then finally stop around 1.3020-30 and wait for the ECB decision. I avoid trading immediately the news, it's good to allow at least 2 hours to give the EUR time to determine any direction. 

GOLD i think will rally today some hours before the ECB decision.

For today 

LONG EUR above 1.3150 SL 1.3140 TP 1.3220 and above

SHORT EUR below 1.2970 SL 1.2990 TP 1.2900

LONG GOLD above 1662 SL 1657 TP 1674 and above

SHORT GOLD below 1651 SL 1657 TP  1640-1630

Good luck!

Views: 2067

Tags: EUR, GOLD, USD

Comment by Kevin Henry Ostermey on January 10, 2013 at 6:58am

Always such professional  and very accurate independent reviews! Keep up the good work!

Comment by Franck Max on January 10, 2013 at 9:12am

Wow Vlad, for the EUR, the recommendations for today are like 90 pips away from the current position, on either side.. Am I reading this right?

Comment by Vladimir Mihaylov on January 10, 2013 at 11:37am

Yes, you're reading right, i cannot determine direction between 1.3000 and 1.3140, movements in both directions are possible, if you're not sure what to do - stay away from the market today

Comment by Vladimir Mihaylov on January 10, 2013 at 3:14pm

Dollar falls across the board as jobless claims increased, and Draghi's speech shows stability in the ECB monetary policy, probably no rate cut before april or even later.

Comment by Vladimir Mihaylov on January 10, 2013 at 3:17pm

LONG GOLD target reached

Comment by Vladimir Mihaylov on January 10, 2013 at 4:19pm

LONG EUR target reached 

Comment by Kobe on January 10, 2013 at 4:36pm

nice trades Vladimir!

Comment by Bero Maatouk on January 10, 2013 at 4:38pm

awesome work vladimir thank you for everything :)

dear vladimir i just wanna ask you about gold trades,do we need a big account to trade with gold ?

and we trade with gold like we trade in currencies or it's totally different ??

thank for ur help vladimir

 

Comment by Vladimir Mihaylov on January 10, 2013 at 5:34pm

GOLD is a dangerous matter, it may give you a lot of profit and a lot of loss. The best thing to remember there is that when it's going for more than 5-6 USD against you, you'd better exit because it will go a lot more against you for sure. GOLD moves are partly dependent but the price of the dollar. You have to trade with the smallest possible amount, if you are with the move you will make a good profit, but if you aren't you will have an afordable loss. Trading with GOLD isn't for beginners. Use MA indicator to trade GOLD it gives the best results, placing stops is a must when trading gold - otherwise you will loose your money very quickly.

Comment by Neo on January 10, 2013 at 5:35pm

I am next to you Mr Peter... consistently correct....... Keep it up buddy

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