Hi, Its quite a volatile markets since the NFP report, which was quite bullish for dollar but we have seen some strong level reversals by gold and Euro, So, as far as levels are concerned I have change my short term sentiment from strong bearish of Euro and gold to medium and short term bullish .
Gold offering strong levels of buying amid safe heaven demand
There are quite other facts that turn the sentiments from bearish to short bullish on both precious metal and Euro is due to the fact that there are not cash funds inflows at the start of the year after strong fall in the Dow Jones and other world's Indexes.
As, there have been not so volatile sessions at the start of the year trading, but this time around things are totally different which we have not seen is years could be the things to come with a start of bear market in 2016.
Euro with a fake break of support and offering lot of buying opportunities after retest
After seeing the above chart we have been given an opportunity to go long euro with stop very close to the recent low or rejection point which will give us very good risk reward ratio and its really worth trading as we have seen some strong accumulation after a steep fall in the common currency ie. euro dollar.
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