Vladimir Mihaylov
Independent Analyst
EUR has found a good support just above 1.3800 and is currently trading below the 1.3820 resistance line. There is a thin resistance area at 1.3820-40 above which the upside pressure of the EUR bulls will increase. However another resistance comes at 1.3850-60, breaking of which will target 1.3905 again. For now there are no signs of breaking below 1.3800. EUR price is approaching the the H4 Senkous Span A slope and it is quite possible to start climbing it. Daily indicators are bullish, H4 are bullish for now, smaller frames are mixed.
GOLD has made a sharp reversal yesterday, loosing almost 30 USD of its price. Currently it is trading close to the 1299 support area. I expect the downside to continue, if the price continues to stay below 1304.
NZD has broken the 0.8600 support and now the target is 0.8560, where is the H4 SMA200, final support is at 0.8520. After unsuccessful break of 0.8560 the price is likely to return back to test the 0.8630 resistance.
AUD recovers after the price bouned from the H4 Senkou Span A line and the target is the resistance 0.9380-0.9400. Upside will be restored on a H4 close above 0.9400. If we have another H4 close below 0.9350 bears may take control of the move so be careful.
JPY is loosing positions against the USD, but the greenback faces a strong resistance area at 102.30-102.50. Upside will be restored only on a Daily close above it. Otherwise the Yenn may quickly return all lost positions.
GBP is in a flat consolidation ahead of today's economic data. Yesterday it made a quick test of 1.6660 support and it is quite good. On Daily, H4 and H1 frames the pair is bullish. We have a resistance area at 1.6760-80 breaking above will test the 1.6810 again.
For today:
LONG EUR above 1.3800 SL 1.3785 TP 1.3850-1.3880-1.3905
SHORT EUR below 1.3840 SL 1.3855 TP 1.3790-1.3765-1.3730 (use this if upside through 1.3850-60 fails) wait for mrs.Yellen's speech today
SHORT GOLD below 1304 SL 1308 TP 1290-1285-1278-1270
LONG GOLD above 1310 SL 1306 TP 1317-1321-1328
Good luck!
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