Today you may use my yesterday's forecast levels because it was a very calm day as no important news in calendar. We have the retail sales in the USA to be released with the american session opening and if the value equals or is worse than expected this may support the EUR and to test 1.3720 area. On H4 we are supported by the Senkou span A of the negative Ichimoku and tomorrow, if today's test of 1.3700 is not successful, to test the support at 1.3600-1.3580. Somewhere around these levels we have a diagonal support line of the ascending channel, and with some bad US data it will continue to cap any downside. We have a possibility to break higher the negative Ichimoku on H4 frame on Thursday ot Friday this week, until that we shall try to stay inside, Resistances to watch today are 1.3680 and 1.3720. First support is 1.3630 then 1.3610 finally 1.3570-80.

GOLD has made a tiny move to test the 1242 support which for now holds. However another drop below 1245 may extend to 1236. H4 shows that we have a good support close to 1230 so above that we still may expect the upside to continue. Below 1222 you'd better exit long-s.

For today:

LONG EUR above 1.3650 SL 1.3640 TP 1.3680-1.3710-1.3740

SHORT EUR below 1.3630 SL1.3640 TP 1.3610-1.3590-1.3575

LONG GOLD above 1250 SL 1245 TP 1260-1266 and above

SHORT GOLD below 1242 SL 1248 TP 1232-1225-1216

or use yesterday's forecasted levels.

Good luck!

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Comment by Khan Green on January 14, 2014 at 6:29am


Comment by Vladimir Mihaylov on January 14, 2014 at 8:36am

First LONG EUR target reached


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