After yesterday's 'tennis' day EUR has finally stabilized above 1.3600 level and still preserves chances to break higher the and to return inside the 'triangle'. However for this the necessary condition is to close the day above 1.3630. If this doesn't happen today, then we may assume that the trend reversal has started and that next target will be around 1.3500 and below. During the Asian session EUR price moves are extremely small so uncertainty continues. I am still confused and cannot determine the direction of the currency for today, but i will mark the support and resistance levels. Immediate support is 1.3610 it holds for several hours since yesterday's close and M30 shows the price is now above that. First resistance comes at 1.3625-30 and this is quite important for today. On breaking up higher the move will continue to 1.3670-90 and then will try to close the day and the week above 1.3630. If we have a fail at 1.3630 then a reverse will take place and the price will target 1.3555 and below. The bad thing is that we have a huge battlefield for today which was set yesterday and this is between 1.3580 and 1.3640, sideways movements will present inside, use 'hit and run' here.

GOLD has succeeded in staying above 1240 and seems ready to make another attempt to test 1252-54 resistance. Exit LONG below 1235, and below 1218 enter SHORT.

For today:

LONG EUR above 1.3630 SL 1.3615 TP 1.3670-1.3690-1.3720

SHORT EUR below 1.3605 SL 1.3620 TP 1.3575-1.3555-1.3535-1.3505-1.3490

LONG GOLD above 1241 SL 1236 TP 1250-1260

SHORT GOLD below 1235 SL 1240 TP 1222-1215-1200-1192

Good luck!

P.S.These days i am experimenting with some new pairs like GBP/USD, AUD/USD, NZD/USD and USD/JPY, for now still adjusting the model as these pairs have different behaviors from the EUR. When the model starts to give acceptable results i will post them here :)

Views: 840

Tags: EUR, GOLD, USD

Comment by Daologic on January 17, 2014 at 6:31am

Good Vladimir, I wait for your analysis for AUDUSD, it is one of my preffered pair.

Thanks!

Comment by Por Por on January 17, 2014 at 7:02am

Excellent..your analysis is the go straight too one...no BS....brilliant....thanks

Comment by Khan Green on January 17, 2014 at 7:15am

It will be more advantageous to less experienced like many, if u also comment on likely trend of the market (either Bullish or Bearish) for the day as well.

Regards

Comment by Khan Green on January 17, 2014 at 7:16am

I was in specific to Gold, plz

Comment by Sheeda Pastaol on January 17, 2014 at 7:21am

Good news.. adding new pairs!!!  always good to know your analysis!!!

Comment by Vladimir Mihaylov on January 17, 2014 at 7:29am

@ Akmal - when it is clear what the trend is i will tell, but now i am confused too. Did you see what hapened yesterday, tell me what was the market bullish or bearish :)

@ Daologic - still experimental but here are values for AUD/USD :

LONG AUD above 0.8825 SL 0.8800 TP 0.8880

SHORT AUD below 0.8815 SL 0.8825 TP 0.8782

Comment by Khan Green on January 17, 2014 at 9:54am

Tnks for the pulse.

Comment by Syed Ali Arslan on January 17, 2014 at 3:15pm

very useful analysis as always...can u please include crude oil? 

Comment by Vladimir Mihaylov on January 17, 2014 at 4:19pm

Seems that the SHORT AUD model worked for today, but still need some more testing. 

SHORT EUR also has reached first two targets, but the trade today is quite difficult and the big players are still hidden. I don't know why, but this makes me think that soon another powerful upside move may appear. Why the big players do not sell - this is the question....

@Syed - i may include oil, but the price there depends mostly on fundamental data, and my power is at technical analisys, so i cannot say my forecast will be reliable there. Also i do not know what of all crude oils are you trading

Comment by Faraz Solangi on January 17, 2014 at 8:24pm
Your eur and especially gold calls are excellent keep it up.

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