EUR slowly looses positions from last Wednesday's upside jump and is trading currently at the 1.2750 support. Next stronger support is at 1.2700, for which i ecpect to hold and the recovery to continue to 1.2900 and above. However if for some reason we have a Daily close below 1.2700, this will reopen the way back to 1.2540 and below. This week we do not have any so much important news, except PMI data on Thursday and US jobless claims later the same day.

GOLD is locked within the range 1225-1245, for now 1245 seems unbreakable and the outlook is more bearish than bullish. H4 and Daily indicators here are pointing to the downside while Weekly show that bullish recovery continues.To fully restore the bullish move we need a Weekly close above 1280, but this maybe not this week.

NZD continues recovery to 0.8050, Daily indicators are bullish, smaller ones are mixed but turning to bullish too. As long as we are above 0.7940 you may try go long, do not allow more than 10-15 pips SL.

AUD is in a consolidation mode which i expect to develop into a bullish move. Main support here is 0.8680-90, and currently we are nearly 90 pips above that. It is difficult to set an entry point from here but you may try to enter LONG as long as the price is above 0.8750, below that you'd better wait for a better price around 0.8710.

JPY continues to loose price rapidly and the pair opened with an upside gap. however 107.55 resistance is close and to continue with the recovery we need to break above 106.00. Next resistance is ar 108.20 and finally 110.00. The pair is bullish above 107.00

GBP is in a recovery move too and the pair is bullish above 1.6050. First Daily resistance comes at 1.6140 and next at 1.6200. Daily indicators are strongly bullish while H4 and smaller are mixed and tests of 1.6050-60 are possible, do not allow more than 10-15 pips SL below that area. Loosing 1.6020 on Daily may cause the price to drop below 1.6000 again.

RUB remains weak, and the pair is still close to the highest levels ever, but weekly and daily indicators started to reverse their upside direction. Maybe we are going to see a massive profit taking soon as Russia and Ukraine make more agreements.Above 40.50-40.60 the pair is still bullish. But below you have to exit LONG.

For today:

LONG EUR above 1.2740 SL 1.2730 TP 1.2800-1.2880-1.2910-1.3030
SHORT EUR  below 1.2680 SL 1.2695 TP 1.2640-1.2600-1.2540-1.2520
SHORT GOLD below 1245 SL 1248 TP 1236-1231-1226-1218
LONG GOLD above 1228 SL 1225 TP 1236-1242-1248-1252

Good luck!

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD drops below 1.0800 after German Retail Sales data

EUR/USD drops below 1.0800 after German Retail Sales data

EUR/USD has come under fresh selling pressure and trades below 1.0800 after the data from Germany showed that Retail Sales declined by 1.9% MoM in February. Resurgent US Dollar demand is adding to the downside in the pair. US data are next in focus. 

EUR/USD News

GBP/USD stays weak near 1.2600 amid market caution

GBP/USD stays weak near 1.2600 amid market caution

GBP/USD remains defensive near 1.2600 in European trading on Thursday. The hawkish tone from Fed Governor Christopher Waller keeps the US Dollar afloat amid a cautious trading environment ahead of key US data releases and the Good Friday trading lull. 

GBP/USD News

Gold price holds strength ahead of US core PCE inflation

Gold price holds strength ahead of US core PCE inflation

Gold price holds onto gains near $2,200 in Thursday’s European session. The precious metal exhibits firm footing ahead of the United States core PCE Price Index data for February, which will be published on Friday. 

Gold News

XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC

XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC

XRP programmatic sales ruling by Judge Torres was completely rejected by another US Court that ruled in favor of the SEC in a lawsuit against Coinbase. 

Read more

Portfolio rebalancing and reflation trades emerge into Q2

Portfolio rebalancing and reflation trades emerge into Q2

Yesterday’s price action pointed at a possible end-of-quarter portfolio rebalancing as the session saw the laggards of the quarter like Apple and Tesla gain, and the stars like Microsoft and Nvidia retreat.

Read more

Majors

Cryptocurrencies

Signatures