EUR managed on Friday to break the 1.3400 resistance, but bulls prefered to take the profit and the currency dropped even below 1.3300. Now we are back to the comfortable 1.3320-30 area, where EUR feels good enough, and where bulls start making plans again. It is interesting to see that despite a huge drop on Friday, still indicators point to the upside and nothing has changed almost on all time frames. So i am bullish as long as the EUR price is above 1.3250. Once broken, EUR will drop 100 pips down and if 1.3140 is broken we are going another 100 pips down. What i am thinking is that if there is any drop it will be stopped at 1.3140 and from there a new upside move will develop with target 1.3520. We need a weekly close below 1.3000 to take a look at 1.2600 area, so now i will not comment that. To the upside EUR is still fighting with the upper border of the weekly negative Ichimoku and is still trying to break it higher. Monthly Ichimoku also keeps the downside pressure over the EUR. Currency has made a double top formation and this also is a possible signal that soon bears will take contol, but for now they are still sleeping.
GOLD is close to the major resistance @ 1695 but still uncertain what to do, this may lead to another quick drop, but that i think will be used as a buying opportunity, you may try to enter too, but with a tight stop.
Enter with tight stops on EUR too, we are now performing a range trade within 1.3250-1.3400 range.
LONG EUR @ 1.3290 SL1.3275 TP 1.3340-1.3380-1.3410 and above
LONG EUR @ 1.3250 SL 1.3235 TP 1.3340-1.3380-1.3410 and above
SHORT EUR below 1.3230 SL 1.3250 TP 1.3140 - 1.3060 and below
LONG GOLD above 1678 SL 1674 TP 1694
SHORT GOLD too risky - i can't give you and entry and exit point, trade it on your own risk.