EUR started the week below 1.2300 level. This week's target will be 1.2220 and below. However i expect the current downside to stop somewhere above 1.2100 and from there to start a massive recovery to the upside. All the things on Monthly may turn heavy EUR negative if next year EUR price drops below 1.2000. This if happens may push the price down to 1.1000 and even below. But let's now forget this scenario because it is a really long term one. This year's target will be somewhere above 1.2100 before any upside correction. Daily and H4 indicators are currently bearish but starting to show tiny signs of recovery. First resistance comes at 1.2305 then 1.2325 and finally 1.2340. To the downside any break below 1.2290 will look for another support at 1.2255 and then at 1.2225 finally 1.2200.
GOLD is pressed by the negative Daily cloud and as expected the correction pushed back the price below the support 1196. We have now a resistance area to break at 1198-1201, followed by the Senkou Span A price at 1208 and finally breaking the cloud at 1228. Daily and H1 indicators are negative and H4 are mixed. If the price drops below 1178 it will look for support at 1161 and then 1152.
NZD slided with 50 pips since today's opening. H1, H4 and Daily indicators are heavy bearish so i expect the slide down to continue as long as the price is below 0.7680. There is nothing more to comment here.
AUD left the Monthly cloud and the price is currently below that. If we close the year below we may consider it as successful breaking lower. Indicators on all time frames are extremely bearish. this will continue unless we have at least one H4 close above 0.8330. Possible weekly target is 0.8140.
JPY was under a massive dollar attack on Friday and the pair has reached 121.68 level. Today it recorded a fresh high at 121.84, but is likely the price to return to 120.60 later today as my indicators are saying. H4, Daily and Weekly indicators are heavy bullish and the process seems to continue as the price holds above 119.70.
GBP is also badly affected by the strong USD and H4, Daily and Weekly indicators here are also bearish. Until we are below 1.5570 bearish conditions will remain. I expect the slide down to continue till the end of the year 2014. However i expect recovery to 1.5900-1.6000 on January or February next year.
RUB is consolidating between 54.60 and 52.60. The pair is now in a downside correction and is looking for support at 52.10. The final support here is 51.25, above which billish outlook remains.
SHORT EUR below 1.2280 SL 1.2290 TP 1.2255-1.2225-1.2205
LONG EUR above 1.2305 SL 1.2295 TP 1.2325-1.2340-1.2365
SHORT GOLD below 1198 SL 1201 TP 1191-1182-1176-1162-1152
LONG GOLD above 1205 SL 1203 TP 1212-1218-1226-1232