EUR has re-entered the positive Ichimoku on Daily and even closed the week at the top 1.3640 which is also the resistance line. Today it opened with a small gap to the downside which is a sign for possible reversal to the downside this week. However today and tomorrow there is no so important economic data. On Wednesday mr.Draghi will speak, on Thursday we have the US jobless claims report and on Friday we have the Germany's and EU's GDP and also Michigan confidence report which will move the market.
So until Wednesday it is quite possible to move in range between 1.3585 and 1.3675, you may sell at the top and buy at the bottom. We have 1.3670-80 resistance area and next resistance is at 1.3730, above it upside will be restored with targets above 1.3800. On the downside we have the 1.3600 support followed by the 1.3570-80 and then target is 1.3480 again. As i have said big players still do not sell and i wonder why. Remember the pair still has a potential of testing 1.3800 once again. This week we shall see if this will happen. The big players will start to sell when we have a downside move of over 300 pips in one day, this will tell us that all bulls are dead. And still there is no bigger move than 180-200 pips which is not enough. On H4 the pair is stopped by SMA200 but supported by the negative Ichimoku. Daily close above 1.3630 will signal progres to 1.3730 till wednesday and maybe 1.3770-90 by the end of the week.
GOLD has reached 1270 again but resistance is just above at 1273, breaking above will target 1285 and 1305 where is the SMA200 on Daily and this is a strong resistance. Support is the well known 1254, then 1238 and finally 1220. The recovery of the metal currently continues, but fail at the 1273 may return the price back to 1255.
NZD is facing a resistance area just below 0.8300, current support is at 0.8260, as we are above it the pair is bullish. The most important is 0.8230-40, a drop below will result in testing 0.8200 and below.On Daily we have the Senkou Span B pressing the price to the downside and tomorrow we may see the price back to 0.8200-10 area.
AUD is correcting lower after hitting the 0.9000 diagonal resistance line. Below 0.8840-30 downside will be restored and you may sell again. Before that we have the 0.8910 and 0.8850 supports to deal with.
JPY bravely continues the glorious recovery and the target is 103.30, the price is supported at 102.10 and bulls are happy. However this exciting move doesn't seem to have a bright future and on a fail at 103.30 the price may return back below 101 very quickly, so keep this in mind. However a daily close above 103.50 will change the bearish outlook.
GBP also has opened with a small gap to the downside. Many of you are interesting what will hapeen here. Well we have the BoE inflation report on Wednesday and the speech of the BoE chairman, who will explain the bank's monetary policy and this will move the pound heavily. Until that a small sieways moves will present. The price support is at 1.6380 and currently the price is stopped by the Senkou Span A line of the H4 cloud. I think today the price will move between 1.6440 and 1.6380.
LONG EUR above 1.3610 SL 1.3600 TP 1.3650-1.3665-1.3690-1.3705
SHORT EUR below 1.3590 SL 1.3600 TP 1.3570-1.3540-1.3500-1.3440
LONG GOLD above 1256 SL 1250 TP 1272-1286-1294-1302
SHORT GOLD below 1273 SL 1278 TP 1262-1256-1248-1239-1226