EUR recovery still difficult, bears are going to attack 1.2300 soon

Last Friday EUR made some recovery to 1.2550-60 resistance area. Today EUR reversed to the downside again and has cleared all the progress made on Friday. Currently EUR found support at 1.2450 which is also the H4 Senkou Span A price. For now we are still just above the support but i think there is a huge possibility for it to be broken soon. H4 indicators are bearish, and the Daily ones are going bearish too. First target is 1.2380 and then 1.2325. To the upside we need to break above 1.2510 again and close H4 above that to continue to the resistance 1.2560 and 1.2610. Breaking of the last will extend the progress to 1.2675 and 1.2730.

GOLD also has recovered last Friday and made some gains against the dollar and now is consolidating also looking for support close to 1175. If this one fails next one is at 1160, if this fails too then the target will be set to 1146 and finally 1137. To the upside we need a break of 1196 to continue to 1208 and 1222.

NZD has found support at 0.7900 and is using it as a start point for upside recovery. However we are pretty close to a resistance at 0.7930 which is the Daily Senkou Span A of the Daily negative Ichimoku. If we fail here and the price drops below 0.7900, this may cause bears to take control and the price quickly will go to 0.7800, breaking of which will make another 150 pips to the downside.

AUD has been rejected from the 0.8790-0.8800 resistance area and all the efforts now are to stay above 0.8680. Breaking of that will lead to continuous weakness and the price will drop at least another 100-120 pips. To the upside we have a huge negative cloud and for now any upside will be used to open new SHORT positions. Daily indicators are turning negative.

JPY shows continuous weakness against the dollar and this seems to have no end. We have a resistance at 117.10. Current support is at 116.20 and the pais is currently in upside move. we are bullish as long as the price is above 116.25. We may have a downside reversal only below 115.30, but this is too far from where we are at the moment.

GBP is looking for support above 1.5600. The pair currently trades at 1.5640. Breaking of 1.5570 may cause the pair to enter in a free fall state and to drop a lot more. We need here an upside correction to 1.5900, but as long as we are below 1.5670 the pair and all indicators on all time frames are bearish.

RUB is still trying to escape the difficult situation, but with no result for now. The pair remains bullish above 47.05, next solid support is at 46.30. For now there are no signs of correction to the downside, but you have to watch close for the support levels, any break may start a powerful profit taking.

For Tuesday:

SHORT EUR below 1.2470 SL 1.2480 TP 1.2405-1.2385-1.2345-1.2325

LONG EUR above 1.2480 SL 1.2470 TP 1.2520-1.2545-1.2565-1.2570

LONG GOLD above 1293 SL 1290 TP 1202-1208-1215-1222

SHORT GOLD below 1178 SL 1181 TP 1265-1154-1146 and below

Good luck!