Euro, Sterling, Dollar index and Gold

Euro gave in before reaching the target. It formed a rising orange channel but couldn't reach the 1.33 target and broke the channel on the 4th touch as usual. Below 1.3050 will break the green rising channel and the momentum looks quite strong to break it. 

The clear picture in GBP was causing some worries about my Euro prediction. Well, it turned out right. GBP took down Euro with him. The red channel in GBP is very strong and accurate. That's the main reason I like GBP for channels. The first target is around 1.54 but if the red channel is broken it will go much faster towards 1.40-1.45 I think.

Another worry for me was the blue potential channel I posted on the dollar index which also delivered towards the Euro weakness. Of course this channel needs confirmation with a higher high yet.

Gold turned at 1440 at the bottom of the green channel and also formed a bull flag which is shown in red. However, it needs to break this bull flag to reach around 1500 levels. Below 1452 it is a good short which would resume the downfall of the PM.