EUR is still consolidating below 1.3770. All are waiting for the next move from the ECB. Closing today below 1.3730 will make bulls' situation even more complex. Traders still avoid going SHORT and are very careful. Today more of the same can be expected with testing 1.3700 and 1.3770, which are the support and resistance levels. We have to wait for the ECB next move to see a breaking out of this range.

GOLD bounced back by the Weekly resistance 1354 and tested 1331 support area. For now it is still above so the bullish tone still present. You may go long close to 1332 with a tight SL.

NZD makes some attempts to test 0.8400 resistance, but for now is trading below that. Progress is difficult here, but further dollar weakness may help a lot. The pair is bullish as long as we are above 0.8330

AUD continues recovery and approaches the important resistance 0.9000. A Daily close above will target 0.9060 and then 0.9120. Another fail at 0.9000 may cause a reverse back to 0.8870 support.

JPY continues sideways moves in the range 101.00-102.60 still no any significant move and the pair is not able to develop a new trend.Daily close above 102.50 will target 103.20 and 103.50. The pair is supported by the intermediate support 101.50. It is quite difficult to tell you where will be the next move here, but is more likely to go to the downside again.

GBP continues consolidation just above 1.6650 support and i expect another push higher, resistance is 1.6770 and another fail will mean a 'double top' at 1.6770 which may lead easily to a reversal below 1.6600. Go LONG on H4 close above 1.6680, SL 1.6650, TP 1.6720-1.6760

For today:

LONG EUR above 1.3730 SL 1.3715 TP 1.3770-1.3790-1.3805-1.3825-1.3840 if SL hit reenter if the price returns back at 1.3730

SHORT EUR below 1.3770 SL 1.3785 TP 1.3730-1.3710-1.3690-1.3660-1.3640-1.3600

SHORT EUR below 1.3730 SL 1.3740 TP 1.3710-1.3690-1.3680-1.3660-1.3625

LONG GOLD above 1332 SL 1328 TP 1342-1346-1350

SHORT GOLD below 1328 SL 1332 TP 1322-1318-1312-1308-1302

Good luck!

Views: 585


You need to be a member of Forex Social Network to add comments!


© 2018   Created by FXStreet.   Powered by

Badges  |  Report an Issue  |  Terms of Service


Live Video