I just went long at 1.3249 with a stop at 1.3148. Target is 1.5280.

Hourly Chart:

Gold “Stuck” with Bonds, Currencies as Equities Ignore “Horrific Deflationary Catastrophe” THE PRICE OF GOLD was driven sharply lower at Thursday morning’s Gold Fix in London, dropping 1.2% to a one-week low of $889 per ounce as world stock markets continued to rise. Government bond prices ticked down, and the US Dollar reversed an early drop on the currency markets. Trading at £598 an ounce, the Gold Price in Sterling meantime unwound this year’s entire gains-to-date, standing at a 15%

European market Update: Euro-Zone Unemployment at 2 1/2 year high; Capital rotation continues into stocks from Bonds as “Green Shoots” speculation rises ECONOMIC DATA – (GE) German ILO Unemployment Rate. 7.6% v 7.5%e – (SA) South Africa March M3 Money Supply Y/Y: 10.6% v 12.4%e – (UK) Nationwide House Prices M/M: -0.4% v -1.2%e; Y/Y: -15.0% v -15.8%e – (FR) French Producer Prices M/M: -0.4% v -0.4%e; Y/Y: -5.5% v -5.3%e – (SP) Spain Apr CPI EU Harmonized Y/Y: -0.1% v -0.1%e – (HU) Hungarian

American Session EUR/USD – Euro Dollar 1,3234. EUR USD is in a consolidation after the last bullish movement. The volatility is high. Bollinger bands are flat. Oscillators are neutral. The consolidation should continue. The price should find a support above 1,3225 (9 pips). If the support breaks then the target will be 1,3150 (84 pips). Resistances 1,3340 – 1,3395 Supports 1,3225 – 1,3150 GBP/USD – British Pound Dollar 1,4800. GBP USD is in a consolidation after the last bullish movement. GBP

NEW YORK (Reuters) – Oil prices climbed toward $51 per barrel on Wednesday as optimism that the U.S. recession was easing boosted markets and raised expectations of a rebound in energy demand from the world’s largest consumer.

Royal Dutch Shell and Baker Hughes report sharply lower profits, and Hess swung to a loss, but shares of the major energy companies rose with the broad sector ahead of weekly U.S. inventories data.

American Session EUR/USD – Euro Dollar 1,3234. EUR USD is in a consolidation after the last bullish movement. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR USD. The uptrend should continue on 1,3290 resistance (56 pips). Resistances 1,3290 – 1,3395 Supports 1,3170 – 1,3085 GBP/USD – British Pound Dollar 1,4703. GBP USD is in a

EUI (USD/EUR on ISE): new USD weakness expected. Pivot: 77 Our forecast: Down move towards 74 & 72.80. Comment: The RSI is turning down, the pair is breaking below its flag bearish pattern) lower boundary. To leverage our Trend Opinion on the ISE FX Euro currency rate we selected the following strategy. * Volatility Cones can be used to visualize current option implied volatility relative to historic volatilities at different maturity ranges. * Historical volatility measures actual market

EUR/USD The EUR/USD is flying, bolting through all three of our downtrend lines after bouncing off our previous 1.2987 support. Investors came in defense of 1.30 with serious volume. The currency pair is presently testing April 24 highs and it appears to have more room to run should today’s data from the U.S. come in positively. The EUR/USD’s considerable strength is rooted in better than expected earnings from Spain’s Santander, the EU’s largest bank. Since we are in a financial crisis,

Risk appetite refuses to falter despite swine flu threat. Market shrugs off ugly US GDP number, awaits FOMC monetary policy statement. MAJOR HEADLINES – PREVIOUS SESSION Australia Mar. HIA New Home Sales out at 4.2% vs. 3.9% in Feb. New Zealand Apr. Business Confidence out at -14.5 vs. -39.3 in Mar. Sweden Apr. Consumer Confidence fell to -21.0 vs. -14.5 expected and -16.5 in Mar. EuroZone Apr. Consumer Confidence out at -31. vs. -33 expected and -34 in Mar. EuroZone Apr. Economic Confidence