Vladimir Mihaylov
Independent Analyst
EUR starts the last week of the year with hopes for some recovery to the upside. H1, H4 and Daily indicators show a process of weak recovery has started with first target between 1.2250-1.2300. Any H4 drop below 1.2185 will restore the downside move. Weekly indicators are still negative with target 1.2060 still unreached, this may happen in the beginning of 2015 but first we need to break below 1.2160.
GOLD is still blocked inside the Daily Ichimoku, we need to break above the resistance 1202 to continue with the upside recovery. Daily indicaotrs are turning bullish while H4 and H1 are still mixed. I think there the recovery to 1220 will continue soon, but be prepaired for quick drops to 1185 for example.
NZD has started a recovery and the main target is the 0.7800-0.7810 where the price will meet H4 SMA200 line, it is expected the upside to be capped below 0.7825. Only a H4 break of the last may extend the upside recovery to 0.7850 and above.
AUD is trying to recover too but the price is very close to a resistance at 0.8155, another resistance is 0.8175 and finally 0.8240. Any drop below 0.8120 will test the 0.8095 and 0.8087 low from 23th december. H4 and H1 indicators point to the upside while H1 is mixed.
JPY was not able to complete the second upside wave before Christmas holidays and the price has tested the 120.20 support level. Below 120.10 the price may test 119.00 which is the final H4 support. But before that we have a good support at 119.90 which i expect to hold for now. Daily support here is 117.00, above that on Daily we are bullish.
GBP recovers with target 1.5620. It is less possible to break above 1.5630 today but if we have a break till the end of this week next target will be 1.5680 and only above it the bearish outlook will change to bullish with target 1.5780-1.5800.
RUB is in a stand-by mode for now after recent volatility. The pair my try another upside but only above 54.25. Below this resistance it is more likely to test the support at 52.80 and 52.00. First Daily bearish target is 51.10 and the last one is 49.90. Upside will be fully resored only on a clear Daily break above 58.50.
For today:
LONG EUR above 1.2180 SL 1.2170 TP 1.2205-1.2225-1.2260-1.2285-1.2330-1.2370-1.2440
SHORT EUR below 1.2165 SL 1.2175 TP 1.2145-1.2110-1.2075-1.2060-1.1990
SHORT GOLD below 1198 SL 1201 TP 1192-1186-1178-1171-1166
LONG GOLD above 1200 SL 1197 TP 1208-1216-1224-1231-1236-1244-1250
Good luck!!!
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