Vladimir Mihaylov
Independent Analyst
EUR consolidates around 1.3760 support area and is waiting for today's ZEW data from Germany. It is difficult to say what direction will choose the EUR. I think the downside will continue but there is a great possibility to make a spike higher to hit some stops and then to reverse back to the downside. Target zone for the spike higher will be 1.3825-1.3835. The upside will be fully restored only above 1.3875 which is pretty high for now and i do not expect this to happen. We have two support areas to follow - 1.3720 and 1.3670. Below the second the pair will test 1.3560 where is the next weekly support area. Daily and H4 indicators are turning to bearish,smaller time frames are already bearish.
GOLD has almost reached my second target 1304 from yesterday,however staying above 1300 was a bit difficult and the price returned back to 1291 where is the support, breaking below 1290 will test 1280, but breaking above 1296 will increase the upside pressure again.
NZD is still in consolidation, we need to break above 0.8650 to make a test of 0.8700 again. The pair is bearish below 0.8600.
AUD is close to the support area 0.9320-30 i expect for this to hold for today too, and overall support is 0.9250. If we reach somewhere around it is good idea to enter LONG, but do not forget the stop loss.
JPY is on its way to loose the battle with the dollar as the price reached the resistance 102.30, breaking above will test 102.75 which is the last resistance standing. The pair is bullish above 102.10 so you may enter LONG and exit the LONG below 102.00.
GBP is trying to restore the bullish movement but for now this is not successful, for this we need at least a H4 close above 1.6910. The support is 1.6870, breaking below will target 1.6820 and 1.6780.
For today:
LONG EUR on H4 close above 1.3770 SL1.3755 TP 1.3810-1.3825-1.3835
SHORT EUR below 1.3835 SL 1.3850 TP 1.3750-1.3720-1.3700
SHORT EUR below 1.3750 SL 1.3760 TP 1.3720-1.3685-1.3660
LONG GOLD above 1296 SL 1293 TP 1303-1308-1315-1321
SHORT GOLD below 1290 SL 1293 TP 1285-1280-1276-1272
Good luck!
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