EUR has stopped for a while the free fall, but it almost has no chances of any recovery to the upside as we have a strong resistance area built by several resistance lines. This resistance area is between 1.3630 and 1.3660. If we have any recovery into this area please keep in mind that the new downside wave may start at any moment. Upside reversal may happen only on a Daily close above 1.3680. If so, then the negative Daily Ichimoku will be inder attack and the target price will be 1.3750.

GOLD has broken the negative Daily cloud and is now outside, first support comes at 1308, then 1305, and below the second metal may test 1291. If the price succeeds to break above 1322 the upside movement may resume.

NZD has built a good support at 0.8750 which may be used as a signal indicator.While we are above 0.8750 we are bullish, if we are below - this is a correction and if we drop below 0.8700 this is a downside reversal

AUD has found support at the 0.9330-40 area and is now recovering back to the reversal area 0.9400-10. Breaking above it will fully restore the upside, but as long as we are below a range trade will present inside the range 0.9350-0.9400

JPY is still keeping the dollar below the Daily negative colud. The price movement is almost flat. I think something powerful can be expected soon here. I think the move will be to the upside, but this maybe just a wishful thinking, so do not trust at all, decide on your own here.

GBP is unable to break the 1.7170 resistance but as long as the price is above 1.7080, the upside is untouched. below 1.7080 the next support is at 1.7035 and finally 1.6985. Above 1.7140 the pair may try another upside attempt.

RUB has reached 34.60 resistance and bounced back. Upside will be restored only if we have a Daily close above the 34.60, but for now we are locked inside 34.60-34.25 range. Try to enter LONG above 34.30 with a tight SL.

For today:

LONG EUR above 1.3610 SL 1.3600 TP 1.3630-1.3650

SHORT EUR below 1.3595 SL 1.3605 TP 1.3565-1.3545

LONG GOLD above 1322 SL 1319 TP 1328-1331-1339

SHORT GOLD below 1317 SL 1320 TP 1308-1305-1294

Good luck!

Views: 691

Comment by Muhamad Agung Wibowo on July 8, 2014 at 6:31am

1317 for Short Gold has been hit, but then price move north currently.. Hoping it goes back south again, and not reaching SL 1320.. :-)

Comment by Michel Miles on July 9, 2014 at 7:49pm

Thanks Vladimir! Your advice is so so precious! 

Comment by Michel Miles on July 9, 2014 at 7:52pm

Mr. Vladimir for Euro upside reversal at this moment is still excluded? Or upside reversal is now with breakout of the 1.3637 on daily close?


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