EUR has finally dropped down after some weeks of waiting and consolidating at the top. Now it stopped at the diagonal support and the bottom line of the ascending channel at 1.3220. A break lower will target 1.3140 and 1.3100. Breaking below the last is less possible this week. Seems that the war in Syria will start Saturday night, when all the UN inspectors are gone, but USA doesn't care about them so much, the main reason is that all markets will be closed. Remember the money move the world and this war is also for the money and to support the dollar because US economy needs more stimulus and is quite possible FED to continue with stimulus till the end of this year at least. This will destroy the dollar price and will send the EUR in space maybe to 1.4000, that is why USA needs this war. I am so sorry for the people there, they are the victim of Wall Street. So after a temporary EUR drop be prepaired for a reverse in September. The reverse is supported by the huge positive Ichimoku cloud starting around 1.3100. Daily indicators show EUR is in a correction phase, H4 show first resistance of 1.3275 from where a new wave down may start. H1 is similar to H4 - recovery to 1.3260-70 and then a new drop.
Dollar Index is well supported at 81.30 so breaking lower will be hard, this also supports downside EUR scenario for today.
Many are asking what about GOLD? In fact i first thought that GOLD will continue upside, but the market thinks different. I entered several times yesterday but every time my SL was hit. The metal formed something like H&S model which can be seen on H4 frame. GOLD is close to the support area 1404-1408. As long as this holds the metal preserves upside potential with target 1430-1434 area, then 1450. If we are not able to close above 1412 for the following H4 the price may turn south to 1390.
SHORT EUR below 1.3275 SL 1.3300 TP 1.3205-1.3175-1.3150-1.3120
LONG EUR above 1.3370 SL 1.3350 TP 1.3410-1.3450-1.3510
LONG GOLD above 1408 SL 1404 TP 1422-1432-1450
SHORT GOLD below 1400 SL 1405 TP 1390-1385