Summer consolidation continues

EUR continues summer season consolidation, economic data does not move the pair significantly in either direction. Seems all are waiting for 20th august when Greece is due to pay another amount of money. Until that at least we shall consolidate is the range between 1.0860 and 1.1100. Currently the attempt to break 1.1030 has failed and the price returned back to the support 1.0940-60. If the price breaks below this area we may expect another 80-100 pips down. However i expect that the price will stay above 1.0900 for this week and will try to get back above 1.1000 again.

GOLD is using recently formed support at 1091 to get above 1100 again but for now without any success. H4 and H1 indicators are quite mixed and don't give any clear indication of possible direction but the metal seems to do more bullish than bearish moves at the moment. So it is quite possible to stay above 1100 for the days ahead. Upside target is 1123 and support is at 1091.

NZD still not able to escape the 0.6630-40 cap, and if it will the will face another resistance at 0.6675, the final resistance is 0.6750 but it is pretty far for the low volatility season. Support levels are 0.6530-0.6500-0.6480. Below 0.6570 the pair is bearish.

AUD marks a huge 130 pips drop this morning as it has reached the 0.7435 H4 SMA200 resistance. The pair is bearisg below 0.7345. Upside move will be restored only above 0.7400. Main support for this week is 0.7250.

JPY continues slowly upside move as the price is now above 124.60 the process is going to continue. H4 and Daily indicators are bullish too. First target is 125.00 and then 126.00.

GBP moves inside the Daily positive Ichimoku cloud and is likely to continue this for the rest of the week despite the cloud ends soon. Support is at 1.5500 and resistance is aroud 1.5580. Weekly resistance is at 1.5670 and for now is too far. Volatility is low and i do not expect any direction to be formed this week. Prepare for another sideways trade in the following days.

RUB has dropped to almost 65.00 against the dollar but since yesterday's open it gaind back some of the lost positions. However above 61.30 the pair remains bullish. Be careful because some drops to 61.50 are possible and below it we may see a downside correction move to 59.60 and below. Once above 64.00 the upside will be restored.

For today:

LONG EUR above 1.0940 SL 1.0930 TP 1.0980-1.1020-1.1050-1.1080

SHORT EUR below 1.0920 SL 1.0930 TP 1.0890-1.0860-1.0820

LONG GOLD above 1094 SL 1091 TP 1100-1110-1122

SHORT GOLD below 1089 SL 1092 TP 1078-1071-1066

Good luck!