EUR recovered from mid week losses and now is just below week's top at 1.3404. It is expected to make a new top today. The absolute target is MA200 @ 1.3485 but i am not sure if we shall reach it or somewhere below the bulls will start profit taking. Yesterday the EUR price was well supported by the good results of Spain's auction and the far more bad Philadelphia's index, even decreasing the jobless claims couldn't stop the desire of the bulls for a new top. Where will be the new top - well that's pretty difficult to say but i think it will be somewhere between 1.3435-1.3455, then the price will try to remain above 1.3400 and to close above 1.3400 the week. I am still thinking that the EUR price is very overestimated, and the dollar weaknes is too artificial. Remember that in Europe only decisions are taken, only plans are adopted, but nothing is done for real, the only fact is the unemployment grows with every month and this is something which market is pretending blind for. Have this in mind when you are going long.
GOLD has made a huge movement up and down, which shows that it looks fo a direction, meanwhile my yesterday's LONG target was reached and i hope you have made some golden pips. For today we have the support 1676 which is away for now and facing the resistance @ 1694-1696 which is too close. i am expecting with the EUR profit taking , the price of the GOLD to rise some more.
LONG EUR above 1.3360 SL 1.3345 TP 1.3440-60-85
SHORT EUR around 1.3485-65 (if reached) SL 1.3490 TP 1.3405-1.3380-60
if we fail again at 1.3404 then
SHORT below 1.3350 SL 1.3365 TP 1.3280-50-30
LONG GOLD above 1685 SL 1681 TP 1694-1700
SHORT GOLD below 1665 SL 1670 TP 1650 and below