Downside scenario prevailed and EUR fell across the board very dramatically. For the past 10 days it has lost almost 500 pips. I'm taking a look now at all the charts and i think it's time for a correction move higher. But the Daily and H4 chart model shows very possible another powerful downside move may occur soon. Investors do not close their short positions as for the last 10 days there was no any pullback for more than 100 pips. So this supports the theory of testing 1.2000. If you take a look on Monthly chart you can clearly see that we have a full negative candle with still no any pullback. So i think we shall have 1.21 soon and may be a little below then a powerfull pullback to at least 1.2400. On H1 we have resistances @1.2255, 1.2270, 1.2290, 1.2310, 1.2330 - pretty much and placed at equal distance from each other, and on the downside we have only 1.2210 to breach - nice and easy right?!?!

Problems with Spain are too much and money given to the banks won't be enough, be carefull as break below 1.20 may take us another 500 pips down, and recovery will be very difficult then. For today go LONG above 1.2280 TP around 1.2350 or go SHORT below 1.2170 TP around 1.2085. Place stop loss @ 50 pips. More agressive strategy SHORT below 1.2270 for 1.2170 and even below.

GOLD also suffers from EUR weakness.If you have some available money you may go LONG around 1550.

Any comments and questions are welcomed, i do not trade another pairs so i can't help in other pairs.