Yesterday's trade offered low volatility and moves in range between 1.2740 and 1.2690, EUR did a 50 pips drop on a bad data from Germany, and was under selling pressure through the whole day, as Monday was a non working day in USA, EUR was not able to do a recovery. This morning EUR dropped further - for now to 1.2672. The outlook is still negative as the EUR is in a very narrow downside channel and threatens to break the positive daily Ichimoku. Every upside recovery is used to open new sell orders. First resistance is about 100 pips above @ 1.2775 and first support is @ 1.2665. Second support is @ 1.2606 and we may go there soon. I think that a recovery will happen then which will go up to 1.2800 at least. Today we have a meeting of the eurozone financial ministers the whole day, with the start of the european session we shall have some data from France, Italy and Spain, and these will be followd by Germany's ZEW, later today there will be some mid important data from USA too. Today Greece will have an auction, and if the results are good this will support the EUR.

GOLD found hard to go above 1737 and reversed back to 1720 as expected. 1740 will be hard to break, so on another fail i'm expecting even harder drop. We need a daily close above 1744 to restore the upside.

For today:

SHORT EUR below 1.2720 SL 1.2740 TP 1.2650-60 and if borken then 1.2606

LONG EUR above 1.2660 SL 1.2640 TP 1.2760

LONG GOLD @ 1720 SL 1715 TP 1735-1740

SHORT GOLD if H4 closed bar under 1713 SL1720 TP1700 and below

Good luck!

Views: 575

Tags: EUR, GOLD, USD

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