EUR has made an unsuccessful attempt to break the 1.33 level as expected and the price returned back to 1.3290 where is the support. Maybe it is time for profit taking???? I'm not sure yet because the indicators are mixed. On Daily still they are pointing to upside, on H4 they are in a correction mode, but still in the upside, on H1 everyting is similar to H4. Only on M30 we are bearish, but that time frame is too quick, and i'm not building my forecasts on it. In fact we may do a little bit recovery to 1.3220-30, that won't be a surprise but then a new leg down will start. Attacking the top is less possible as the Christmas is coming.

Doomsday has come for the GOLD yesterday. The 7-month support line is broken. Nothing good for the GOLD as the next support is 1630. If that's broken then 1595 and 1560 will be next. Remember my joke about the golden beer cans, now the content is more valuable than the package, don't forget to recycle :) maybe some day it will worth something.

For today:

SHORT EUR below 1.3220 SL1.3240 TP 1.3140

LONG EUR above 1.3250 SL 1.3130 TP 1.3300-10

SHORT GOLD below 1648 SL 1652 TP 1630

do not enter long gold for now

Good luck!

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Comment by Jose on December 21, 2012 at 4:52pm
Nice work again Vladimir..
Happy Holidays!!!!


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