First EUR recovered to 1.3318 then dropped to 1.3040 on risk aversion. We have a suuport @ 1.3030 where is the Senkou Span B of the positive Ichimoku on H4 frame. However breaking below is too early,so if happens and we reach 1.3000 i expect the price to recover quickly above 1.3100 at least - maybe in the next couple of days to 1.3180. We need a retracement back to 1.3200 below breaking 1.3000. Another thing that supports my theory is that the current EUR drop is not based on any econimic data, or ECB decision, drop is driven only on emotions and on the question who will be the next woman in mr.Berlusconi's bed. So i think it will be good to buy here at the current levels and wait for the markets to relax and to rethink again all the facts together with profit taking from short-s will bring the recovery and profit for you :) Where to buy i don't know exactly, but lower is better :)
GOLD seemd stabilized above 1585 but still not able to recover because of the dollar rally. GOLD recovery to start once above 1605 daily close.Below 1580 another fall will take place.
For today:
i expect a consolidation for today and tomorrow and range trade between 1.3020 and 1.3140
LONG around 1.3010-20 SL 1.2990 TP 1.3080-1.3120
SHORT below 1.3140 SL 1.3155 TP 1.3080-1.3040-1.3000
it's quite difficult to predict the market which is emotionally driven so use 'hit and run' strategy
LONG GOLD above 1605 SL 1600 TP 1615-1625
SHORT GOLD below 1680 SL 1685 TP 1672-1664-1650
