hello every one ,,

EUR/USD

  • EUR/USD touched its lowest level in almost a year yesterday before rebounding off the 38% retracement (polarity) of the 2011/2012 decline in the 1.3150 area
  • Our near-term trend bias remains lower in the euro while below 1.3285
  • Support is seen at 1.3150 and 1.3125 ahead of a key action/reaction zone between 1.3085/50
  • An important turn window is eyed next week
  • A close over 1.3285 would turn us positve on the euro

EUR/USD Strategy: Like reduced short position while below 1.3285.

Instrument
Support 2
Support 1
Spot
Resistance 1
Resistance 2
EUR/USD
*1.3085
1.3150
1.3185
1.3225
*1.3285





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GOLD
  • XAU/USD is struggling higher along the 2x1 Gann angle line of the year’s closing low
  • Our near-term trend bias is lower while below 1321
  • A close under the Gann line now at 1278 is needed to kick off a new leg lower in the metal
  • A cycle turn window is eyed next week
  • A move over 1321 will turn us positive on XAU/USD

XAU/USD Strategy: Square.

Instrument
Support 2
Support 1
Spot
Resistance 1
Resistance 2
XAU/USD
1263
*1278
1292
1300
*1321


source link

http://www.dailyfx.com/forex/technical/article/forex_strategy_corner/2014/08/28/PT_AUG_28.html
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