Vladimir Mihaylov
Independent Analyst
EUR is consolidating around 1.3700 area with some bearish bias and is prepairing to attack the support at 1.3670. The Daily support is at 1.3625 where is the SMA200. Breaking below that final support will set the downside target below 1.3500. Upside is limited by the positive Ichimoku at 1.3720-30 and any upside move will be stopped ahead of 1.3780-1.3790. At this point recovery above 1.3800 is less possible and i do not think it will happen. There are no so important economic releases until Wendesday when the FOMC will be released and also mrs.Yellen speaks on Wednesday, so until that the consolidation around 1.3700 will continue.
GOLD is moving also in a tiny range, but it seems that GOLD has built a solid support above 1280, which may be considered as an important support level from now on. We need a Daily close above 1309 to continue with the upside and a Daily close below 1280 will increase the downside pressure.
NZD is locked again between 0.8610 and 0.8650 after the last thursday's attempt to break above 0.8700 has failed. Currently H4 and H1 are showing a downside move in near term, Daily indicators are mixed. The pair has a good support at 0.8600 but a Daily close below will turn the outlook to bearish.
AUD is also consolidating above the support at 0.9350, however on H4, H1 and smaller frames indicators point to the downside, We have an intermediate support at 0.9320, breaking below may test 0.9280. Above 0.9365 another upside attempt can be made.
JPY keeps the pressure over the Dollar ahead of FOMC and for the next 2 days the process will continue. The price is going to move close the the Daily SMA200 at 101.10. Next stronger support is at 100.68.
GBP has found support at 1.6770 and is trying to recover back to 1.6850-60 resistance area. We need a Daily close above 1.6860 to restore the upside, until that a falt consolidation will present inside the 1.6770-1.6850 range.
For today:
LONG EUR above 1.3700 SL 1.3690 TP 1.3730-1.3750-1.3765
SHORT EUR below 1.3690 SL 1.3700 TP 1.3660-1.3630-1.3610
LONG GOLD above 1309 SL 1306 TP 1318-1322-1331
SHORT GOLD below 1280 SL 1283 TP 1272-1266
Good luck!
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