The week ahead * $GOLD update – $GLD $GDX $GC_F $$ #Gold

It started year into a key swing price price point of 1625, form which propeled until mid-January close to the -also key- $1700.

Price consolidated into the 1698-1685 area for a couple of days, only to get back into lower areas of value, last friday marking the low of the retracement at 1655.

There´s seems to be some sort of balance into the current 1657-1655 area. As previously noted, I tend to respect the type of development Gold experienced back on Friday and look for further continuation of the trend, unless I get some sort of important (and opposite) response, which will signal the importance of the current for buyers who then decide to start acting.

I´ll be watching the following clusters in the days to come

2013-01-28_0244

Provided buyers show up -which seems to be the case, at the moment, as I am writing this post at 12:46AM ET- I´ll be looking into 1663-1661.50 as short term resistance folllowed by 1666-1665 & 1670-1668, specifically 1669.

2013-01-28_0258

1675 is a key swing area into the current cluster.

Above:

1679-1676

1684-1682

1687-1685

1691-1689, being 1690 a NPOC (important)

Finally, 1698-1696 int the higher cluster.

Alternatively, sellers keeping the pressure will make Gold to visit lower areas of value.

2013-01-28_0258_001

1650 is a key price point where imbalance took place. A break below it, will have me looking at:

1648

1645

Both should provided decent support, unless sellers mantain their advantage, in which the line in the sand will be provided by 1644-1640. followed by 1638-1636.

2013-01-28_0259

DP.-

 

 

 

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The week ahead * ???URO update – $EURUSD $6E_F $$ $FXE #forex #fx

Haven´t wrote a long review in almost a month.

I´ve been shying away on Euro on an intrday basis and currently watching higher timeframes on it. 

Also, the $ES_F has not showed the type of opportunities I look for, thus having moved into other assets to trade.

As a norm, I monitor both $ES_F and $NQ_F, as indices. $6E_F on currencies; and $GC_F  and $CL_F on metals and energy, respectively.

I´ve been more in sync with NASDAQ futures, Crude and Gold, lately.

Llikely you´ll more analysis on those in the following posts, although €uro will reviewed in the following post.
2013-01-28_0220
After starting the year bouncing from the 1.3000 mark, €uro probe into 1.3400´s for the first time in almost 14 months, and becoming accepted and balanced for 10 days into the 1.3400-1.3260 range, before probing into higher areas of value last Friday after the LTRO results into the 1.3482.

There´s important support at 1.3331-1.3300, specifically 1.3316, key prices and areas that are currently the line in the sand for foreseeable short term. above that mark, there´s weak support in the 1.3445-1.3432 & 1.3421-1.3412.
2013-01-28_0213
Above the current trading price of 1.3461, 1.3510-1.3490, as short term resistance – 
2013-01-28_0216
1.3510 is a NPOC

Above, 1.3540-1.3517.

1.3544 is another NPOC that should be taken into account.

I would expect further acceptance of higher value areas to continue, into the above referenced areas and price points. Alternatively, a consolidation phase within the range could be possible, before moving into higher areas of value. 

An important and continued participation by sellers will prove this scenario wrong (see this post for rationale), in which I would eb keying into the leveles referenced above in a downward scenario. A break of the area around 1.3260-1.3220 will likely dirve the price into lower areas of value.
13050-1.3030, folllowed by 1.3014–1.300 will bring it back to the first days of the year, and area of important support where the current move has originated.

DP.-

???URO quick update & Key Areas – $EURUSD $6E_F $FXE

2013-01-22_1647

1.3315 is currently a key price point, as you might note from the first chart below. POC at 1.3316, which I will treat as the line in the sand.

To the upside, I´ll be looking at 

1.3360

1.3354

1.3343

1.3338

While downside scenario1.3288 will be of note

2013-01-22_1638

Nearest support @ 1.3267-1.3246, followed by 1.3226-1.3174, which is a weak one.

Above, I´ll be looking at 1.3400 as key price point. Above that:

1.3440

1.3448

1.3457

1.3461

1.3480-1.3425 as broader areas