Vladimir Mihaylov
Independent Analyst
EUR has lost almost 200 pips since Monday and the pair despreately needs a correction but still there are no any signs of a possible correction. EUR is in a free fall state, after bad data from the EU and Germany, and better news from the US. Dollar is stronger than ever but i wonder if this is a temporary strength or the start of continuous EUR weakness. The pair needs a correction at least to 1.3330-50, and maybe more next week. But first we need to deal with the 1.3290-1.3310 resistance area (previous good support).
GOLD again is close to the final support 1282 below which we may reach quickly 1252 and even below. Upside recovery will be stopped ahead of 1305, where is the resistance.More upside only on a Daily close above 1308.
NZD will rely on 0.8280 to stop the free fall. The support level is both Daily and Weekly support and i think we shall have a huge pullback to the upside there if reached. I do not expect that to be broken .
AUD also dropped to support 0.9240-50, for now is still above it, but if broken nex support is at 0.9180 where is the Daily SMA200. A correction higher may start from it.
JPY is totally doomed as the pair reached 104.00. If that level is broken too the target will be set at 105.20, but i do not expect that last to be broken soon.
GBP is strying to break the 1.6570 support, we need some pullback here too and i think the first attempt of breaking that support won't be a successful one. However dollar is quite strong and is possible a final push to 1.6500 before any pullback occurs.
RUB remained less affected by the stron dollar and still the price is not able ro record a fresh high. Support is 36.14 and resistance is 36.54. I expect range trade here for today.
For today:
SHORT EUR above 1.3250 SL 1.3260 TP 1.3210-1.3190
LONG EUR above 1.3240 SL 1.3230 TP 1.3290-1.3310
LONG GOLD above 1282 SL 1279 TP 1292-1305
SHORT GOLD below 1275 SL 1278 TP 1266-1256
Good luck!
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