Vladimir Mihaylov
Independent Analyst
EUR recovery has reached 1.3430 but the bullish power was not enough for something more, so the pair made a pullback to 1.3400, just above the support area 1.3380-90. Breaking below will test 1.3320-30 once again. We have a great chance for this because tomorrow's ZEW for Geermany is expected to be far worse from the previous value, and economic growth data for the eurozone on Thursday is also expected to be worse than previous. So i expect more slide till the end of this week.
GOLD has reached my targets at 1316 and 1322 then returned back to 1308 support area. The metal is bullish above 1300, but below that it may drop to 1250 very quickly, so be careful. Enter LONG above 1300 and exit LONG immediately below 1299.
NZD has found some support at 0.8430 and now it is at the Daily SMA200 support @ 0.8460. Further recovery is possible only above 0.8500, until that more slide is expected.
AUD has found support at 0.9260 despite the quick drop to 0.9240 on Friday. Now the pair is in a recovery mode to 0.9310-30 area, you may try some small LONG and exit below 0.9255.
JPY is trying to take back the control of the pair but the chances for this will fade once above 102.30, until that more downside is possible, the first support to break is 101.90. For now i think this will hold. Enter LONG above 102.30, exit below 102.10.
GBP is in a downside move the target could be even 1.6590, currently we are at the resistance 1.6780. H4 and Daily indicators are bearish, while smaller ones are mixed and show a temporary recovery. The pair is bearish below 1.6800. Recovery may reach 1.6830 before the new slide occurs.
RUB seems has stopped the dollar upside at 36.54 and currently we have some profit taking maybe to 36.00. The pair is bullish as long as we are above 35.95, if we drop below 35.85 the RUB's prassure may increase pushing the dollar to 35.50 and even below.
For today:
LONG EUR above 1.3380 SL 1.3370 TP 1.3430-1.3465-1.3485
SHORT EUR below 1.3405 SL 1.3415 TP 1.3380-1.3350-1.3330
LONG GOLD above 1302 SL 1299 TP 1312-1316-1322-1328-1331
SHORT GOLD below 1295 SL 1298 TP 1291-1288-1278-1272
Good luck!
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