EUR is trying to recover but only mr.Draghi can help it to go back to 1.2000

EUR continues to loose price against the Dollar. The price dropped to 1.1460 and then we had some 100 pips pullback. Currently the pair attempts to recover further using the profit taking from SHORT ahead of ECB later this week. We shall have also Germany's ZEW economic sentiment and Eurozone PMI which are expected to be better than previous so this may help the EUR to climb up to 1.1760 and even to test 1.2040 again. All indicators are bearish below 1.1570. First downside target is 1.1510 and then 1.1460 finally 1.1400. To the upside first resistance is 1.1570 then 1.1600-1.1660-1.1760

GOLD Has made a significant progress after last week's SNB decision. Maybe some market players have lost everything as the pair dropped heavily within parts of a second and the market was thrown into panic. The metal has broken 1254 resistance which is also the Daily SMA200 and is trading above it. Now we have the 1258-1268 support area which if not broken will continue to support the upside movement. Next resistance is at 1299-1303 area.

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