As i have said yesterday on fail breaking 1.3700 the price will drop down to test the supports at 1.3580-1.3600. Currently 1.3630 intermediate is holding the asian bears, but breaking below is a matter of time. To restore the upside we need a H4 close above 1.3670 and i do not see this to happen today. So it is good to sell below 1.3650, however we are some 15-20 pips below that. I hope for some pullback to enter Short. Breaking below 1.3610 may destroy the whole upside recovery picture if the price is not able to recover quickly. For now the battle will be to stay inside the negative Ichimoku as i have told you yesterday. If we take a look from another point of view (switch on Daily) the pair is in a minor downside channel which started in the beginning of December 2013 around levels of 1.3810 - if we assume this is the correct point of view - then we have bounced from the resistance line of that channel at 1.3700 and now we are targeting the channel support at 1.3520. 

GOLD has also failed in breaking the negative cloud, and even never has made an attempt for that. First support is 1238, next is 1230. Daily close below 1220 will target 1182 and below. To restore the upside we need a break of 1254. Zone between 1230  and 1240 is the battlefield between bears and bulls.

For today:

SHORT EUR below 1.3650 SL 1.3665 TP 1.3605-1.3590-1.3570-1.3540-1.3520

LONG EUR above 1.3675 SL 1.3660 TP 1.3715-1.3730

LONG GOLD above 1244 SL 1238 TP 1254-1265

SHORT GOLD below 1230 SL 1236 TP 1220-1200-1190

Good luck!

Views: 637

Tags: EUR, GOLD, USD

Comment by Khan Green on January 15, 2014 at 6:26am

Gud 1

Comment by Vladimir Mihaylov on January 15, 2014 at 12:30pm

First SHORT EUR target has been reached

Comment by Vladimir Mihaylov on January 15, 2014 at 5:23pm

Second SHORT EUR target has been reached too

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