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: 1785

Tags: EUR, GOLD, USD

Comment by Forex Pro on January 23, 2013 at 5:33am

Thanks for your analysis, I am looking to go long if it falls under 1.3300 with tight sl around 1.3260 otherwise short near 1.34 level don't see it breaking 1.34 today

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

thanks

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