EUR has failed with the upside attempt and we have a break below the support 1.3780 which pushed the price to 1.3750 at the moment. Next support area is 1.3720-30 if it is broken the pair will test 1.3670 and below that the price will enter a free fall state until 1.3540 is reached. To the upside we need a H4 close above 1.3815 to restore the bullish move, another fail means another drop. Today a high volatility is expected so be careful, there is a great possibility of SL to be hit.
GOLD has recovered quickly and a bit earlier than i was expecting. It hit my yesterday's SL, but the price is still below the Daily SMA200 at 1296. Upside will be restored above 1311. As long as the price is below SMA200 the metal is bearish and upside moves seem like corections.
NZD continues to trade below the resistance 0.8580, and is going to loose 0.8550 support too, next support is at 0.8500,followed by 0.8440. Any dollar gains will increase the downside power of the pair today.
AUD is at important support area 0.9210-20. I expect the pair to test 0.9180 support but to stay above is for today, and then to recover back above 0.9210.
JPY continues to loose price against the dollar but with smaller steps. Traders are optimistic here with the dollar and are testing the 104 level. Daily target is around 104.60, and weekly is at 105.10. For now the pair is bullish and the corection conditions are cleared. Only below 103.70 a correction will happen.
GBP is looking for a direction, maybe today's economic releases will help to choose direction. For now seems that indicators are likely to turn bearish but they are quite flat and unreliable. We can expect a deeper correction and increasing downside power only below 1.6500. Daily resistance is 1.6740 and daily support is 1.6500.
SHORT EUR below 1.3780 SL 1.3795 TP 1.3730-1.3700-1.3660-1.3630-1.3610-1.3585
LONG EUR above 1.3800 SL 1.3785 TP 1.3845-1.3885-1.3910-1.3950-1.3985
SHORT GOLD below 1297 SL 1300 TP 1290-1282-1278-1271
LONG GOLD above 1304 SL 1300 TP 1310-1316-1321-1328
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