EUR-USD Target Hit

My upper-most near-term target for the EUR/USD that was posted yesterday has now been hit, thereby increasing the odds for a pullback/consolidation from here (which would correlate into a near-term bounce in the US Dollar). However, GLD & GDX have not yet reacted as would be expected to today's sharp drop in the dollar but will mostly likely do so soon, especially if we get a more lasting sell-off in the $USD, which still looks likely from the longer-term charts. More on the dollar, gold & GDX later. The 60-minute charts (yesterday's chart highlight the backtest & listing the price targets) as well as today's updated chart of EUR/USD below:

Dec 3, 2015 10:25am|Categories: Forex (Currencies)|Tags: , , , |Comments Off on EUR-USD Target Hit