Vladimir Mihaylov
Independent Analyst
EUR dropped to 1.3185 this morning and opened the week with a huge downside gap. Today the pair may consolidate around 1.3200, and tomorrow to start a recovery. This week is the end of the month trade, so i expect some profit taking from Short after Wednesday. Weekly, Daily and H4 indicators are bearish but are already turning flat to bullish, so i think we are going to have a recovery soon, although opening with such a gap lower is not a good sign.
GOLD was not able to close the week above 1284 which is the Daily SMA200, and we are still below that. This may lead to another drop to 1256 this week. Of course the resistance remains 1284, followed by 1292 and finally 1305.
NZD targets 0.8280 support and hopes it will stop the free fall. The resistance is 0.8380 and below 0.8350 the pair may drop further.
AUD is performing a lot better than NZD and uses the solid support at 0.9290 for starting a good recovery above 0.9300. We have resistance area at 0.9330-40 and only above the recovery will recieve additional power. If the price is bounced back, another drop below 0.9300 will follow.
JPY is badly hit by the dollar who has sent the pair into the sky. we are currently above the 104.00 level and the target is 105.20, but i don't think we have enough power to go there without any correction. We have a good support at 103.30 for this week.
GBP is in a clear downside trend with the first resistance coming at 1.6590-1.6600. it is quite possible this week the price to target the Weekly Senkou Span A price at 1.6400. Recovery is possible only on a Daily close above 1.6610.
RUB for now stops the dollar from moving the pair. Despite all dollar strength, RUB has made a good resistance area at 36.40-50 and keeps the dollar below it. A Daily close below 36.00 will target 35.60 and if broken then 35.10 before the new upside attempt. All indicators are bearish except H1.
For today:
LONG EUR above 1.3200 SL 1.3190 TP 1.3240-1.3265-1.3290
SHORT EUR below 1.3230 SL 1.3240 TP 1.3190-1.3170-1.3140
SHORT GOLD below 1281 SL 1284 TP 1278-1266-1254-1248
LONG GOLD above 1286 SL 1283 TP 1292-1305-1316-1322
Good luck!
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