We had some big moves yesterday as i am calling such moves 'tennis'. EUR was locked in a pretty wide range a little bit over 100 pips and finally moves around 1.3310. Techincally the bullish outlook is not changed and all indicators on Daily still point to the upside, however a break below 1.3230 will change this, so be careful and below 1.3250 exit any longs. On H4 EUR is facing a large positive Ichimoku cloud, which it will try to break to the downside, but i think any attempt will be stopped around 1.3260-70 and the price soon will recover above 1.3330 with target 1.3450-80.

GOLD is still capped by the 1695 and a break of that will take us to 1710. We are bullish as long as the price is over 1680.

Today we have not so important market moving news so i do not expect huge movements except if someone has nothing to do and goes to Twitter to create artificial volatility.

For today:

LONG EUR above 1.3285 SL 1.3260 TP 1.3380-1.3410 and above

SHORT EUR below 1.3230 SL 1.3250 TP 1.3170-1.3140

GOLD is in a high level consolidation with a tiny intraday moves 

LONG GOLD @ 1688 SL 1685 TP 1695

SHORT GOLD @ 1695 SL 1698 TP 1688

if you don't like that do not trade and place entry points a little bit away from these.

Good luck!

Views: 1806


Comment by mian nadeem on January 23, 2013 at 5:34am



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