Dear friends, thank you for the good words through the year 2013. Next year i will try to follow the movements of the EUR and GOLD even more precisely and to help you with what i can. Merry Christmas to all and have a nice New Year's celebration.
Now let's take a quick look at the markets. After several days of consolidation below 1.3700 level due to Christmas holidays this morning we can see someone is trying to hit stops, creating an artificial buying interest. I think this at the top of the year end is the biggest joke ever. Technically EUR has broken higher the resistance 1.3710 which is now a good support and manages to break the tiny Ichimoku barrier at 1.3730 on H4 frame. Clever, but it is too early to break the Ichimoku and this is a false move. There is a possibility of course to test 1.3800 again and to make a triple top, but usually the dollar is strong in the first days of the new year, so i think EUR won't make it. By the time of writing EUR tests 1.3745-50 area, but with the Asia close and European open i think the pair is going to return to 1.3710-20 support area.
Situation with GOLD is far too complex, we have a double bottom forming at the moment, the process is very slow as any confirmation of the model will make the GOLD run above 1400. Until that we have two resistances to break, first is 1270 and second is 1310. To the downside only 1170 has left before another 100 USD drop which will take is well below 1100 level. Currently the resistance is 1218 and then 1226 only above the recovery may extend to 1246-1252.
LONG EUR above 1.3710 SL 1.3695 TP 1.3740-1.3765-1.3790-1.3820
SHORT EUR below 1.3750 SL 1.3765 TP 1.3680-1.3630-1.3600
LONG GOLD above 1228 SL 1223 TP1 236-1244-1250
SHORT GOLD below 1220 SL 1225 TP 1211-1202-1194-1188