EUR has fully recovered after Wednesday's unexpected drop, currently it is moving along the diagonal support line at 1.3675 and is just above it. We have the resistance at 1.3710, we have all chances to test it today, but this will depend on Germany's and eurozone's GDP and Michigan confidence later today. Any good data for the EUR will boost the upside above 1.3700 and we even may reach 1.3750 if we have a bad Michigan confidence number. It is good to keep in mind that today is the end of the week and pullback because of profit taking is possible. The pair is bullish as long as the price is above 1.3650, otherwise correction will target 1.3590 and below that outlook is bearish.

GOLD is msking the first attempt to break SMA200 i expect the price to bounce back from here because on Daily we have the SMA200 line at 1306, on Weekly we have the Kijun Sen line at 1308 and on Monthly we have the Tenkan Sen line at 1307. So we can see here we have a strong resistance area 1306-1308. However GOLD is capable of making sharp and powerful moves and the price depends on many fundamental factors, keep in mind that next resistance is far above at 1338. I have recieved some questions about what will be the GOLD's next move. In fact i really have no idea and noone has too, but we have a greater possibility of going back to 1300 and below than going above 1308. Where will go the metal will decide the market. You have to remember here one 'golden' rule. If the price goes more than 5-6 USD against your entry, you'd better exit, because in 80% of all cases it will make at least 5-6 more against you. That is why i am placing 6-7 USD SL of my positions.

NZD is bullish above 0.8330, but a correction to 0.8310 is possible, the major support is 0.8280 and the pair will remain with bullish tone as long as that 0.8280 holds. Target is 0.8370-90.

AUD is currently supported by the 0.8970-80 area. 0.8910 is critical for the upside, for now we are far above but on H4 we can see a lack of enough power to go through 0.9020, so if we drop below 0.8970 the pair may try to test 0.8910 support before making a new upside attempt.

JPY was unable to make progress above 102.70 and returned to test the 101.40 Daily senkou span b price. Situation here is quite difficult as the support level is testing at the moment and i cannot determine the direction. Breaking below 101.40 will target 100.20. To restore the upside we need a daily close above 102.30.

GBP has made a test of 1.6650 resistance and even has made a fresh top at 1.6672 we are still at the support 1.6650 but i do not think the price to make any progress to 1.6700 or above, so reverse to 1.6500 is more likely. We have the 24.04.2011 top at 1.6744, but i think this is not today's target.

For today:

LONG EUR above 1.3665 SL 1.3650 TP 1.3710-1.3740-1.3770

SHORT EUR below 1.3650 SL 1.3665 TP 1.3590-1.3550-1.3520

SHORT GOLD below 1307 SL 1312 TP 1300-1292-1288-1282-1274

LONG GOLD above 1310 SL 1305 TP 1325-1336 but i am not sure, better wait for next week to come.

Please vote here: Most Valuable Network Member - 10-th question, thank you! The last day is today.

Good luck!

Views: 795

Tags: AUD, EUR, GBP, GOLD, JPY, NZD, USD

Comment by Amjad Siddiqui on February 14, 2014 at 9:22am

here what I understand is long gold above 1312( short is not going to work)

and short below 1305 (long is not going to work:)

Comment by Amjad Siddiqui on February 14, 2014 at 9:35am

and current price is 1308.50    exactly in b/w both the points 3.5$ difference:)

Comment by Amjad Siddiqui on February 14, 2014 at 10:33am

sir I have a question related to gbp : ur the most valuable network member so asking u:sir gbp is making expanded triangle in daily, a,b,c now d is on: which is a gud point for sell  wating plz reply thanks

Comment by Vladimir Mihaylov on February 14, 2014 at 11:27am

GBP is extremely bullish as the USD is again down across the board. In fact everyone decides where to enter and exit the market. I think that GBP needs correction and going above 1.6700 is a very hard task. I have sold a small quantity at 1.6705 with 1.6720 SL, let's see what will happen.

Comment by Abu Kolawole Ibitade on February 14, 2014 at 12:03pm

Hello sir, i currently have a trade on heavy losses but lookn at the way the gbpusd is moving at the moment could you advise if there seem to be any retracement signs to the downside and by how much. Many tanx

Comment by Vladimir Mihaylov on February 14, 2014 at 12:13pm

GBP SL hit :(, however reentered again at 1.6722 SL 1.6728, maybe we shall try 1.6744 top of which i have talked in the forecast

Comment by Abu Kolawole Ibitade on February 14, 2014 at 12:25pm

Hmn.. i see thanks for the insight.

Comment by Abu Kolawole Ibitade on February 14, 2014 at 4:15pm

Market did went as far as 1.6742 what do you think next sir?

Comment by Syed Zada on February 14, 2014 at 4:21pm
sir gold is likely to test 1335 now n there i cant see that gold will ever move to 1200 levels. what u say

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