EUR has broken above the 1.1250 reversal point last week after weak US retail sales data on Wednesday and closed the week above 1.1400 as Michigan's consumer confidence index was a lot worse than expected. This gave some fresh air to amlost all dollar pairs. Today markets start the week calm with no gaps and sharp moves through Asian session. EUR's bullish continues with next Daily target at 1.1600. However i expect some range trade today in small range around 1.1400 because the market will wait for the Bundesbank's monthly report today and the most important Germany's ZEW tomorrow which is expected to be a lot worse than previous. If expectations are confirmed this will quickly bring the price below the Daily support 1.1280 and will test the next 1.1140. We have the Daily Ichimoku Senkou Span B price at 1.1000 level which seems to be strong enough to hold any bear around. I do not expect any drop below 1.1000 this week, but if we get closer to 1.1000 you should be careful. For now H1, H4 and Daily indicators are bullish, Weekly are also positive. On Wednesday FOMC decision will be released, it is possible to return back above 1.1400 again, but we need to stay above 1.1140. On Friday we shall have a lot economic data and it is difficult to say which currency will benefit from the release, but it will be a difficult day for trading with mr Draghi speech later on Friday.
GOLD rushed through 1200 with a full speed as expected. Daily Senkou Span A has done its job holding downside attempts, and we are now ever above the Daily SMA200 price at 1218. What a perfect start of the week, but next resistance seems to be strong. I am talking about 1232, we are now inside a negative Weekly cloud with resistance level at 1261 which is pretty above from the current price and i expect the bullish optimists to cool down soon. However closing the week above 1232 will be quite positive sign. For now GOLD is bullish above 1215.
NZD has dropped below 0.7540 reversal point and now indicators are bearish and will remain bearish below 0.7470, you may sell below this price with some 15 pips SL. H4 and Daily indicators show bearish move ahead with possible target 0.7360-0.7330
AUD has reached 0.8160 last week but has made a quich downside correction immediately after that. As the price is above 0.7920 the bullish outlook is preserved. You may buy above that price with 15 pips SL and add to LONG once above 0.8000. If SL is hit stay away for some days.
JPY still consolidates with possible upside attempt but we need to break above 120.30. The pair will look bearish below 118.70, and current resistance is 119.80-120.00. H4 and Daily indicators are turning bullish, but the pair is quite difficult to forecast within so long consolidation preiod.
GBP has made a significant progress higher after another bullish week past. weekly resistance is 1.5800 and i think it is not likely to be broken. The pair is bullish above 1.5610. Reversal point is 1.5360. You may try LONG above 1.5770. Below this the pair may correct lower to 1.5680 and 1.5560.
RUB used the dollar weakness and kept the dollar below 50.50 reversal point. Be careful the next 2-3 weeks as a sharp upside move may appear. Target is set at 54.10, and there are some signs of this. Breaking above that resistance will be hard and may take much time.
LONG EUR above 1.1410 SL 1.1400 TP 1.1460-1.1520-1.1540-1.1590
SHORT EUR below 1.1230 SL 1.1245 TP 1.1160-1.1120-1.1050-1.1000
LONG GOLD above 1217 SL 1214 TP 1231-1236-1248-1252
SHORT GOLD below 1188 SL 1191 TP 1176-1165-1156-1151
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