• Too early to say if ECB emergency support measures need to be extended

Knot may be a perennial hawk on the ECB board but the comments above pretty much reflects the wait-and-see approach the central bank is largely adopting currently.

Further Development

analytics5f858f088a963.jpg

Analyzing the current trading chart of EUR. I found that there is completion of the downward correction (bull flag pattern), which is good indication for the further rise on the Gold.

Additionally, there is the test-reject of the middle Bollinger band, which is another confirmation for further rise….

My advice is to watch for buying opportunities with the targets at 1,1830 and 1,1875.

1-Day relative strength performance Finviz

analytics5f858efd68d64.jpg

Based on the graph above I found that on the top of the list we got Ethanol and Crude Oil today and on the bottom Lumber and Natural Gas.

EUR is slightly negative on the the list but with no evidence of any strong downside momentum.

Key Levels:

Resistance levels: 1,1830 and 1,1873

Support level: 1,1780

The material has been provided by InstaForex Company – www.instaforex.com

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