EUR in the sky, where will it go?

EUR reached 1.3873 yesterday which is just below the December's 27th top of 1.3893. We have just 20 pips to reach there and the Weekly resistance is at 1.3920. EU currency met some resistance at 1.3860-70 area and this stopped further upside. The US dollar fell across the board against almost all, except JPY. Speculations about tapering delay have put the dollar under continuous heavy downside pressure. Mr.Draghi said that unemployment growth has been stopped, the difference between Germany and the other counties became smaller, and financial markets are back to normal. Quite positive speech and if we believe him we may consider that Greece will soon catch up with Germany or why not to give some money to Germany to help the economy, the financial crisis in Europe is a forogtten past, and EUR rules the world. Funny isn't it and it will be even more funny if it wasn't so sad. The things in the Eurozone are far from good, and currently the EUR benefits from the bad US data and tapering speculations, not because of the prefect Euro economy. Soon more traders will realize that and the EUR will drop so suddenly as it went up. Let's not take a technical look over the charts -> EUR has broken the 1.3830 resistance and now it is a strong support. We have a good opportunity to test 1.3900 and 1.3920 today and i thing we won't miss it. Maybe a small correction lower will appear before this. For today NFP is expected to be better than previous, but if the market is disappointed again, the EUR will reach 1.3920 in no time. Progress above will be too hard and i recommend to enter SHORT somewhere around 1.3920 with SL above 1.3950. Take profit below 1.3700 then. Recent upside move has created some supports and breaking lower will take some time. We may see a dollar revenge only if we have a lot better than expected NFP for example 175 k - 180 k in which i really doubt. So support for today is 1.3820-30 above it  go LONG, below it go SHORT. Supports below are 1.3800-1.3770-1.3740-1.3690-1.3660. If for some reason we are able to break below the last one 1.3660 it will destroy the upside trend.

GOLD has reached 2 of the LONG targets in my yesterday's forecast and for now it is still bullish ready to test 1359. Stabilizing of the dollar my quickly return the price back to the 1337 daily support. The pair is bullish above 1349. You may try to SHORT ahead of 1260 with a 1265 SL.

NZD is well above 0.8400 encouraged by the weak USD and merrily progressing to 0.8500-20 where the next resistance is. I expect a pullback to 0.8445 for today or maybe more.

AUD has broken the Daily Ichimoku and closed above. The bulls' fuel has gone and the tank is empty just a little above 0.9100 as strategy showed yesterday. I expect the price today to move in range 0.9100-0.9125 and next week to return back to test 0.9050

JPY has lost the battle with the dollar and the price returned quickly to the resistance 103.00. Next resistance is at 103.20-44 above that upside will be restored. Support is at 102.20 and below the pair will test 101.00 again.

GBP has followed the EUR moves as forecasted yesterday, but the move was not so strong. In fact it reached only the resistance area around 1.6770, but has failed there again. Today's support is 1.6690, below that the downside pressure will increase, if combined with EUR weakness we may reach 1.6600 and even 1.6570. Upside target is of course 1.6800-10 but i doubt to make a fresh high today. If any then will be followed by a pullback due to profit taking and the price will return quickly to 1.6770 or below.

For today:

LONG EUR above 1.3830 SL 1.3815 TP 1.3870-1.3890-1.3910-1.3925

SHORT EUR below 1.3925 SL 1.3950 TP 1.3820-1.3780-1.3750-1.3710

SHORT EUR below 1.3870 SL 1.3885 TP 1.3805-1.3770-1.3740-1.3710

LONG GOLD above 1349 SL 1345 TP 1357

SHORT GOLD below 1359 SL 1364 TP 1348-1338-1331-1324-1318-1312-1304

Good luck!