Fear has turned into a panic - EUR has lost nearly 180 pips since Friday close as it falls heavily across the board after the bad news from Cyprus. Who will be the first to leave the eurozone - we are waiting for the mrs.Merkel answer. This move has destroyed my short and mid term outlook, now seems we are going to test how strong is the MA200 support which is at 1.2860, if broken we are going to test the 1.2735-40 which is the lower border of the upside trend channel started from 1.2040 and then 1.2680 which is the Senkou Span A of the negative Ichimoku on Weekly time frame. Currently the resistance is 1.2930 which is the diagonal resistance line so sell below that line.
Golden times for GOLD, in this situation GOLD is able to break the 1600 finally, currently we have a resistance at 1612 but once broken we shall reach 1630-1650 in no time. To restore the upside we need a weekly close above 1700 which is to far above and it is not interesting right now.
SHORT EUR below 1.2930 SL 1.2950 TP 1.2860-1.2810-1.2750
LONG EUR above 1.2730 SL 1.2700 TP 1.2810-1.2850 and above
LONG GOLD above 1575 SL 1570 TP 1612-1625-1640
SHORT GOLD below 1560 SL 1566 TP 1550 and below