Vladimir Mihaylov
Independent Analyst
EUR closed on Friday above the support 1.3850 and today is testing the resistance area 1.3880-90-1.3905. This area is wide enough to stop several attempts, however if the price closes above 1.3905 oh H4 the upside pressure will increase to 1.3920 for example. The pair is likely to stay above 1.3810 until the ECB rate decision on Thursday. Indicators on Daily and Weekly frame are bullish so we have enough potential to attack even 1.3980-1.4000. On H4 we are bullish as long as the price is above 1.3852. To the downside we need at least one H4 closed bar below 1.3770 to continue to 1.3720 but we are pretty far from that right now.
GOLD has made a quick recovery on Friday. The metal has found a good support at 1275 and currently is trying to stay above the H4 SMA200 at 1304. This is a good LONG entry point but do not allow more than 5-6 USD SL. Next resistance is 1316 and 1331. Drop below 1299 will target 1292 and 1280.
NZD is bullish on Weekly, Daily and H4, on smaller frames the indicators are mixed, but they quickly may return in the Bullish zone, and this will happen above 0.8660. Support here is at 0.8630 which may be used as a LONG entry point. Any bullish reversal may happen below 0.8590, but for now there are no indications for this to happen
AUD is consolidating around the 0.9260, the first resistance comes at 0.9290. H4 indicators are flat and give no information. Support is at 0.9240 and then at 0.9210. We have RBA rate decision tomorrow so i do not expect any significant moves here for today, AUD will continue with consolidation.
JPY has made unsuccessful attempt to break the Daily negative Ichimoku, the price bounced back hard and the pair is now trading below 102.00 level. Today and tomorrow the markets in Japan will remain closed. We have supports at 101.50 and 101.20. The resistance here is 102.40.
GBP is pending the BoE rate decision this Thursday, no surprises are expected. Consolidation above 1.6860 will continue with some quick tests of positive H4 support Ichimoku cloud. Quick tests of 1.6830-20 are used to enter LONG at a better price. I wonder if the pair will test 1.7090 this month which is the monthly Ichimoku's Senkou Span B price. Weekly support is 1.6770 followed by 1.6710, the second is also same as the Daily support.
For today:
LONG EUR above 1.3870 SL 1.3855 TP 1.3905-1.3915-1.3925
SHORT EUR below 1.3850 SL 1.3865 TP 1.3810-1.3780
LONG GOLD above 1304 SL 1299 TP 1316-1324-1331
SHORT GOLD below 1297 SL 1302 TP 1288-1282-1278
Good luck!
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