EUR/USD; Gold and Crude Oil - Short term

We are now testing the resistance-band in the 144.20 - 144.52 area. I do think that we shall see a slightly deeper test of this resistancen-band before a break below 143.57 will relieve the upside pressure. The rally from 140.09 is best counted as a double zig-zag and should not be able to push up through 144.52 and more importantly 145.77, which would invalidated the short term bearish picture.

Gold has followed the path laid out yesterday nicely. I still think we are looking at a decline towards 1,575, from where we could see the next drive higher towards 1,636.

A clear break below 1,575 will leave us with the impression, that we have see an important top already at 1,609 for a decline towards 1,558.

In the bigger picture only a break below 1,478 will mark the ending of the entire uptrend since 1999.

Crude Oil broke above the triangle resistance at 99.17 and we should soon see a break above the next resistance at 100 for a move towards next resistance at 104.60, which could be the top for this move.

I know I yesterday said that we might be headed back towards 114 and even 120, but the triangle can only be a B-wave triangle and therefore the most likely top will be near 104.60 or maybe even 106.32 ending this rally since the 89.79 low and setting the stages for the next decline.