Vladimir Mihaylov
Independent Analyst
EUR has jumped to 1.3948 through asian session and by the time of writing still consolidates around 1.3940 level. Move was too sharp and made 40 pips in less than 10 min as the price hit some stops just above 1.3920. Moves in either direction through the asian session quite often return to their starting point at the end of the asian session. So i expect the price to return below 1.3920 by the end of asian session. The dollar is heavy across the board and looses against everything available on the market. With the last Friday's NFP number completely ignored the market targets 1.4000-1.4020 area. One last resistance is at 1.3965, breaking above will take us just above 1.4000. The pair is extremely bullish on all possible time frames, i wonder where the correction will start, as the fundamental data still is in favor of the EUR. The last chance of the dollar to recover some losses are the retail sales and jobless claims report later today.
GOLD has reached 1374 by the time of writing, which is just below my last long target from yesterday at 1375. It is the weekly Senkou Span A price and i think progress above will be hard if dollar starts recovery. We need to pay attention to the geopolitical situation in the Black Sea region, the price of the gold is going to move to the upside in the months ahead, especially if we succeed to close this month above 1400.
NZD has broken 0.8525 resistance and benefits of the weak USD. Currently is trading at 0.8560 and this resistance area is quite strong. Next resistance is at 0.8630, but i think we won't get there this week. Possible correction will look for a support around the previous resistance - 0.8525
AUD reversed downside and jumped a lot higher supported by the good employment change data.So we have broken finally the Daily Ichimoku as forecasted yesterday. We are back above 0.9000 also so the route to 0.9100 and above is clear. Next resistance area is 0.9130-0.9160
JPY wins too against the dollar but not that much. Here we have support at 102.50, only a H4 break below may set next target at 101.65 and below. To the upside resistances are 103.10 and 103.40.
GBP also reversed losses against the dollar and currently is trading above 1.6660 just below the well known resistance/support level of 1.6670. Breaking above will target 1.6720 and 1.6780, while another fail at 1.6670 will send the price to 1.6540.
For today:
SHORT EUR below 1.3950 SL 1.3965 TP 1.3900-1.3880-1.3820
LONG EUR above 1.3935 SL 1.3920 TP 1.3960-1.3990-1.4005-1.4025
SHORT GOLD below 1375 SL 1380 TP 1362-1354-1348
LONG GOLD above 1365 SL 1361 TP 1375-1382-1388-1392
Good luck!
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