EUR progressed to the upside yesterday but the move stopped ahead of 1.3120 and the price returned below 1.3100 then entered in a stand-by mode. Currently the pair is vulnerable to a sudden drop to 1.3060 and to 1.3030-40 later today and this will be the expected false Ichimoku breakout about i have talked yesterday. Use any drop to 1.3030 to enter LONG at a better price, because in some 48-56 h from the time of writing i expect the upside to be renewed with target above 1.3200. Please note that this may happen even earlier, because the market will consume the possible unchanged rate by the ECB in advance. If we have a rate cut an alternative scenario will take place - supports to break are 1.2950 and 1.2860 below the second the pair will enter in a free fall mode maybe to 1.2600.
If we have a break above 1.3150-60 the upside may extend to 1.3230, however in 10 days i expect a drop to 1.3000 once again no matter how far up we shall go this week, so it will be a good idea to SHORT ahead of 1.3250-1.3300.
GOLD recovery has been stopped by 1470-75 resistance level. It is quite possible to test the support at 1450 once again if broken we may drop to 1420 but if it holds further recovery is expected. If we have a daily close above 1475 recovery may extend to 1530.
LONG EUR above 1.3075 SL 1.3060 TP 1.3130-1.3170-1.3200
SHORT EUR below 1.3150 SL 1.3165 TP 1.3090-1.3060 (decide on your own here as we are in upside move now)
LONG GOLD above 1450 SL 1446 TP 1470-75 - 1500-1520
SHORT GOLD below 1444 SL 1450 TP 1420 and below