EUR/USD news flow is crazy. Enough headlines from both sides of he pond to make this pair most favorite trading vehicle in FX land. I am not going to get into all the details, we discussed them here at length over the last week...
Technicals: 200 dsma was support with violent bottom, they always are. Shorts had to cover and new aggressive longs are in. Daily triangle's bottom will be the resistance for now. New range here?? We'll see...
Gold: new historic high today - surprise, surprise. :)
Those still holding need to trail tight stops and be ready for some profit taking here. Gold likes to go to new high and then punish the complacent ones with $20-30 pullbacks.
Mr. Bernanke testifies @ 10 EDT. Let's see what he says about all of the things driving EUR/USD and Gold.
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