EUR performed a range trade yesterday as expected and because of uncertainty where to go the GOLD took the advantage of the situation to break the 1605 resistance and also reached my target. GOLD is not bullish now. This is only a correction move, so you can buy at the support close to 1600 and sell around 1620-1640. We have several resistances until we may say GOLD is bullish. First is 1625, then 1645, then 1668 and then 1694. On Daily close above the last GOLD will resume uptrend.
Now back to EUR - the pair trades calm this morning around 1.3040-50 support zone where it feels nice and comfortable. Another long legged doji yesterday signals that we are going to have a trend reversal. I have told you yesterday that we shall have two days of consolidation, one has alreday passed. Today i expect a consolidation also with bullish bias, and on Thursday and Friday i think the reversal will happen with target around 1.3250. This is what will happen according to my trading model, i do not promise you that it will happen like that, so use my forecast as a reference only. After upside retracement we shall have anough power to attack and break 1.3000. Please take a note that if for some reason we close above 1.3360 there is a chance to reach above 1.3400 and to restore the uptrend. If we break also 1.3000 we shall meet a good support @ 1.2950 which will bounce back the price above 1.3000.
LONG EUR above 1.3030 SL 1.3000 TP 1.3130-1.3180-1.3200
LONG EUR above 1.3010 SL 1.2990 TP 1.3130-1.3180-1.3200
SHORT EUR below 1.2950 SL 1.2965 TP 1.2900-1.2870
LONG GOLD above 1605 SL 1601 TP 1620-1630
LONG GOLD above 1590 SL 1585 TP 1610-1625
SHORT GOLD below 1575 SL 1582 TP 1555