Vladimir Mihaylov
Independent Analyst
Still no market reaction to the vote in Greece and extremely low volatility. Indicators are almost flat and information from them is not reliable. For now EUR show some signs of starting a new downside move, but keep in mind that this may quickly change if a new agreement for Greece is signed soon. It is better to stay away from the market here because any move may be quite sharp and completely inpredicatable, and you may loose all your money.
GOLD continues to loose price as 1188 resistance rejected the price few days ago. H4 frame shows the pair is bearish below 1168 and any recovery is possible only above 1181. Until that we are bearish with GOLD.
NZD is sliding with no signs to stop. Below 0.6700 downside will continue. Any daily close above will stop downside move at least fo some days. Next resistance is 0.6740. The pair is extremely bearish since the beginning of May, and still no signs of much needed recovery.
AUD dropped heavily last Friday and closed the week with fresh low. Despite the slight pullback yesterday the pair remains extremely bearish on almost all time frames so i expect the downside to continue this week too. We are bearish below 0.7690, and below 0.7500 we are extremely bearish.
JPY holds price for now but i expect a dollar attack soon and prices above 123.00 again. Yesterday's break below 122.00 was short lived and the price returned back quickly. Seems the market has tested the support and it is strong with the help of Daily Senkou Span A price level.A Daily close above 123.20 will start a new upside wave.
GBP is still at the support 1.5590. There are some sideways flat consolidation moves. Any H4 drop below 1.5530 may be a signal for a downside wave. But we have a strong support area here between 1.5530 and 1.5550. Resistance is at 1.5660, only a clear break above may reverse the bearish outlook.
RUB seems has lost the battle with the dollar as the price escaped the negative Daily cloud and moves slowly to the upside. We are bullish above 56.00, however for now 57.00 is causing problems for the upside. Once above upside will gain additional power.
For today:
EUR - stay away from the market
GOLD SHORT below 1170 SL 1173 TP 1165-1158-1152-1141
LONG GOLD above 1178 SL 1175 TP 1188-1192-1201
Good luck!
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