Vladimir Mihaylov
Independent Analyst
EUR did not succeed to close daily trade above 1.3380 the whole week. It moved in a small range between 1.3340 and 1.3415.Breaking of either will boost the further move in the same direction. However for now the pair seems locked inside.
GOLD has made a quick test of 1292 support but returnes fast above the previous 1305 support.Any drop below 1300 again may cause further drop to 1276 and 1254 for example.
NZD preserves the chances of upside recovery as long as the price is above 0.8470. Breaking below 0.8460 will cause another drop to at least 0.8360 maybe even more.
AUD is in a downside trend on daily frame. It failed to break above 0.9340 and is currently just above the support 0.9300, breaking below will target 0.9250 and 0.9230. Further upside only on a confirmed break above 0.9350.
JPY put the pair into a range trade again around the important 102.20 level. Still the market players are not interested in this pair. Indicators are almost flat here, avoid trading the pair as the further move is not clear enough.
GBP will try to form a solid support at 1.6660. If we succeed to stay above that level for the first days of the new week we shall have better chances for a recovery to 1.6860 or 1.6940. Any daily close below 1.6660 will increase the downside pressure even more.
RUB again allows the dollar to recover and the price is well above 36.00 main support. We are bullish as long as the price is above 36.00.
See you next week with more light over the market moves.
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