EUR opened the new week with a gap higher, and after the strong bullish moves last week we had a small body candle on Monday. The price coudn't move higher above 1.3404 and this makes me think that a local top has been made. Look carefully on Daily now - this reminds me of so called "evening star" pattern. This is a high reliability bearish reversal pattern, which will be confirmed if we have a long bearish candle today with the close price within 1.3280-1.3310. This will confirm that bulls have given up and the bears are in control. Then the price should go at least to 1.3200 or even to 1.3060. Today i'm expecting a high volatility because of the plenty of economic data both EU and US. My prefered position for today is SHORT. Immediate support is 1.3340-1.3350 if broken we shall enter a thick positive Ichimoku on H1 and then the price will try to break it downside, but this won't happen today i think. Maybe a choppy trade will present today with a bearish bias. EUR price is overestimated i think and may players will prefer to take some of the profit from last week's bullish move.

GOLD has moved in a narrow range waiting for some uncertainty on the market and will show its bullish power soon - watch for 1690 resistance.

For today:

SHORT EUR below 1.3390 SL 1.3405 TP 1.3300 and below

LONG EUR above 1.3400 SL 1.3380 TP 1.3450-85

SHORT EUR below 1.3460 SL1.3480 TP 1.3300

LONG GOLD above 1662 SL 1658 TP 1674 -1690

SHORT GOLD below 1658 SL 1662 TP 1650 and below

Good luck!