After 3 trading sessions of narrow trading we finally see EURUSD attempt to make a move. Its currently testing 1.3940 resistance after it successfully broke above previous trend high 1.3915. Itís trading at prices not seen since October 2011. If it does manage to break this resistance it will open the way for 1.3970 and 1.4015. On the H1 we have an uptrend

Res: 1.3940, 1.3970, 1.4015
Sup: 1.3850 1.3800, 1.3750

Todayís rise of almost 70 pips can be considered a reversal of the downtrend on the 1 hour chart for two reasons. First we see the formation of an upside-down head and shoulders pattern and a rise above the 55 exponential moving average. After failing to continue to the previous downtrend, it found support at 1.6580 went up and broke 1.6650 plus tested 1.6685

Res: 1.6685, 1.6730, 1.6780
Sup: 1.6620 1.6580, 1.6540,

After two past failed attempts at breaking 102.80, USDJPY finally was successful in the third try achieving a new low at 102.50 for the current downtrend on the 1 hour chart. It is currently trading close to that low attempting to break it for the second time. Next target is at 102.25

Res: 103.15. 103.75, 104,
Sup: 102.25, 101.70, 101.20

Gold remains strong breaking another resistance level 1362 continuing its uptrend on all time frames. It also tested 1375 resistance. However itís important to note that on the 4 hour and daily chart RSI(14) is currently above the 70 level which could indicate prices are too high due to overbought conditions. Important thing to note also on the daily chart is that we saw a daily candle close above 1362 which was the high of 28.10.2013.

Res: 1375, 1388, 1400
Sup: 1355, 1345, 1337