Vladimir Mihaylov
Independent Analyst
EUR has tested the 1.3700 support but returned quickly above 1.3730 as expected. The price is supported by the area 1.3720-30 and by the negative daily Ichimoku below which should stop any sharp moves to 1.3670. I think that such sharp drops of the price will be used to open some fresh long positions for another test of 1.3960 and 1.4020 after the ECB on Thursday. We need some bad US data as well to do so. However another fail at 1.3900 price level will lead to a premanent EUR weakness and the target will be set below 1.3500.GOLD currently is supported by the daily Senkou Span A price but if it is broken and the price enters the positive Ichimoku more downside will follow to 1270 for example, so watch for a daily break of 1292. Downside pressure will increase significantly on a Daily close below 1275. upside will be restored only above 1320, we are bearish until then.NZD has reached almost 0.8700 and is currently in a correction mode targeting the support at 0.8640, next one is at 0.8615 and finally 0.8590. I think that if the first one cannot hold the price the second one will do it and another upside will follow here.AUD was pretty close to 0.9300 too but now is returning back to the support 0.9200 followed by 0.9150. I expect here the same scenario as NZD.JPY has finaly given up and the dollar reached almost 103.00, resistance is just above at 103.10 and if broken the upside will get some fresh power to continue. Support is at 102.50 so you may try to enter long close to it and SL is at 102.10GBP still is trying to break higher the SMA200 price at 1.6640-50, for now still unsuccessful. Breaking below 1.6625 will test the 1.6600, but the price is well supported above 1.6580 so i do not expect any drop below at the beginning of the week. First resistance comes at 1.6675 and then at 1.6725. More upside will follow if we have a weekly close above 1.6740, and a fail at 1.6730 will set the target below 1.6500.For today:SHORT EUR below 1.3780 SL 1.3795 TP 1.3720-1.3700-1.3680LONG EUR above 1.3670 SL 1.3655 TP 1.3780-1.3820-1.3850-1.3880SHORT GOLD below 1304 SL 1308 TP 1290-1282-1275-1258-1254-1242LONG GOLD above 1318 SL 1314 TP 1340-1352-1368
Good luck!
Good luck!
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