FOREX CURRENCY EUR/USD and GOLD OUTLOOK

GOLD AND EURO HAVE MOVED IN SYNK.

SPOT GOLD

Spot gold is likely to respect support at $850. Upward breakout from the bullish falling wedge pattern would test resistance at $950 — and possibly $1000. In the longer term, breakout below $850 would signal a primary down-trend but, considering the weakness of the dollar and the strength of oil, this remains unlikely.

FOREX CURRENCY PAIR EUR/USD.

The euro successfully tested primary support at $1.53, but the pattern remains bearish unless there is a breakout above $1.5850. A rally that fails to reach the resistance level would strengthen the bear signal. In the longer term, failure of support at $1.53 would test the rising trendline at $1.43, while breakout above $1.60 would offer a target of $1.67. Further consolidation between $1.60 and $1.53, however, remains the most likely option.

MOUNTHLY PIVOT POINTS.

The [R3] or the most extreme high trading range is 1.5692.

The [R2] or the extreme high trading range is 1.5639.

The [R1] or the high trading range is 1.5572.

The [P] or pivot point is 1.5519.

The [S1] or the low trading range is 1.5452.

The [S2] or the extreme low trading range is 1.5399.

The [S3] or the most extreme low trading range is 1.5332.

Current Day Trading Session:

New momentum to the upside has just started.

Next Day Trading Session:

If the next day’s close is below 1.53627 then that could be a sign that the current upward momentum is reversing.

4xGenie is not currently in a trade, we looking to enter long position soon!

FOREX GENIE.