EUR dropped once again following the failure to reach any agreement between Greece and European partners. Prepare for another drop tomorrow evening when is the deadline for Greece to pay the money. This week we have plenty of economic data but it all doesn't matter in the current situation. Markets are close to a panic state, and you should be extremely careful. If Greece is kicked out of the eurozone, EUR will drop dramatically to 1.04 and even below 1.0000 and GOLD will be reborn with fresh upside wave, but rumors are saying mrs.Merkel has the final word here, and she has a plan to save Greece. So i continue to think that Greece will stay in the eurozone this time too and will recieve money. For now you'd better stay away from the market and wait for a direction.

GOLD is waiting for the deadline too and in such situations many traders use it as the safety place to hide. We have 1191 and 1205 resistances above which we are bullish. Breaking of these levels will be the signal for buying.

NZD seems to build some support at 0.6820, but all indicators are still negative. If the pair is not able to break above 0.6870 or it drops below 0.6820 downside will continue. Only a Daily colse above 0.6880-90 may start the so needed recovery to the upside.

AUD is still in a consolidation near the support level 0.7550-80. This level has bounced the price several times since March this year and is possible to continue to cap any downside moves in future. However below 0.7700 all indiactors are bearish and show another slide ahead. Above 0.7710 a recovery to the upside is possible.

JPY opened the week with a small gap and is trying to gain control over the pair, but 121.90-122.00 level seems strong enough for now, and as long as we are above, the upside possibilities are intact. Resistance here is at 123.40, the pair will consolidate between these two until any of them is broken.

GBP has successfully closed last week above 1.5600 so it preserved chances of recovery continuation. Main support is still 1.5600 and main resistance is 1.5880. On Weekly the price approaches a huge negative Ichimoku cloud which may destroy the upside and press the price to the downside again this month if breaking of 1.5900 is not ssuccessful.

RUB has almost lost the battle with the dollar inside the Daily negative Ichimoku. We have a solid support at 54.20 and the target is set to 55.60. Any break of 56.20 may restart the dollar rally again. H4 indicators are bullish too. Situation is interesting on Weekly where we are just below the Senkou Span B price. If it is broken next target will be 58.80 and above.

For today:

LONG EUR above 1.0960 SL 1.0950 TP 1.1020-1.1050-1.1130-1.1240

SHORT EUR below 1.0940 SL 1.0950 TP 1.0860-1.0810-1.0770-1.0720-1.0640

Good luck!

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Comment by Mandar Manik on July 28, 2015 at 12:14pm

These are my views on the current market situation.


Mandar Manik


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