EURO - Almost Done? Gold - Watch its Fibo. Fan and 1,660-ish Level
Euro- retracement on its daily H&S breakdown is just a tag away from the minimum target of about 1.29.
- On the other hand, the correction has taken its RH&S breakout on the weekly chart back to its neck-line
- Interpretation: the correction in Euro could be almost done! Be careful if you are holding shorts in the equities for now...
Gold - watch the price action as per its Fibo. Fan & 1,660-ish resistance.
- A sustaining price above the upper fan line should prove a great deal of support for gold price
- In the mean time, we need to see gold price to work higher and break the 1,660-ish resistance to spell victory for a true bottom!