Vladimir Mihaylov
Independent Analyst
EUR is consolidating again ahead of Daily Senkou Span A price but as long as the price is below 1.3640 the pair is quite vulnerable to a sudden drop to 1.3540-50 for example. However this will be only a temporary weakness. And the consolidation outlook won't be changed even if the price drops to 1.3500. I think that the EUR will try to enter the negative Daily Ichimoku in the next 10 days and this means reaching 1.3700. Once above 1.3700, the final resistance will be 1.3750, and if we have a Weekly close above that last this will confirm the upside reversal. Currently H1 and H4 are turning bullish, but Daily indicators give no information.
GOLD has found a good support at 1305 and once above 1322 the metal quickly reached 1344 as expected in my previous forecast (LONG GOLD above 1322 SL 1319 TP 1328-1331-1339). More upside to come only as long as we are above 1336, below that the pair may test 1325-1322 support. Upside target is 1352-1374.
NZD closed yesterday's candle where it opened, so the candle has no body, this shows some confusion among bulls, it is quite possible today to test support 0.8780 or even 0.8750. Breaking below the second is less possible.
AUD is in a strange situation, H4 and H1 are bullish but the other time frames are bearish. The pair seems locked inside 0.9350-0.9410, we need a Daily close outside of this range to determine the correct direction. For now sideways trading continues.
JPY is carring out another attack against the dollar and is trying to put the pprice inside the Weekly cloud.This is a very dangerous situation for the dollar as the price may quickly break through 100.00 and to reach 99.10. We are heavy bearish below 101.40
GBP continues consolidation ahead of the next upside leg. The price is bullish above 1.7120 and the main support is at 1.7070. That second if broken will bring the price another 100 pips down in minutes. H4 and H1 indicators are bullish, Daily ones are slowly turning to the upside.
RUB gained control over the dollar, and the pair is now trading below the support 34.20. We are currently inside a downside channel, but once above 34.20 you may try to enter LONG with a tight SL, for a possible upside break of the descending channel. Breaking the channel will be confirmed on a Daily close above 34.50, until that the outlook remains bearish.
For today:
SHORT EUR below 1.3610 SL 1.3620 TP 1.3580-1.3560-1.3540
LONG EUR above 1.3570 SL 1.3560 TP 1.3610-1.3640-1.3670
LONG GOLD above 1336 SL 1333 TP 1345-1352-1359-1364-1374
SHORT GOLD below 1320 SL 1323 TP 1312-1306
Good luck!
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