Seems that bearish scenario for yesterday didn't become reality, and we have formed another 'long legged doji' but still we have no confirmation about the trend reversal. On Daily and H4 we have a strong bullish move and bull don't seem to give up soon. We also have a good support @ 1.3140-50 wich holds any downside move in this relation we may expect a rally to 1.3310-50 this week. However i expect a fail above 1.3310 and start of a powerful decline as a result of profit taking before Christmas and New Year holidays which will take us again below 1.3000

GOLD is trying to find ground but outlook is still negative.

For today:

SHORT GOLD below 1704 SL 1707 TP 1694

LONG GOLD above 1707 SL 1704 TP 1712-1714

if you do not want to take a risk wait for a stronger GOLD move and do not trade right now

LONG EUR above 1.3165 SL 1.3140 TP 1.3260-70

SHORT EUR below 1.3120 SL 1.3150 TP 1.3050

Good luck!

Views: 1891

Tags: EUR, GOLD, USD

Comment by Vladimir Mihaylov on December 18, 2012 at 4:28pm

Short GOLD target reached

Comment by Jose on December 18, 2012 at 7:11pm
great Vladimir! I belive eurusd profit taking too....What is important level 2TP?
Comment by Husain Abbas Doriwala on December 18, 2012 at 8:01pm
Gr8 stuff... Well explained. Kudos mr. Vladimir.
Comment by Hammad on December 19, 2012 at 4:44am

excellent analysis brother

Comment by Amjad Siddiqui on December 19, 2012 at 10:53am

Vladimir what about today's Gold market? any idea? plz help

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