EUR climbed up last week and even reached 1.1000 but quickly dropped back. The pair is now supported on Daily at 1.0790, however Daily and H4 indicators point to the downside and it seems for now the pair does not have anough power to break the 1.1000 resistance. So all eyes are now at the support area 1.0810-1.0790, breaking of this will test 1.0660 and 1.0520. Today we shall have the Germany's CPI and some not so important data from the USA. If the economic data from Germany is positive then EUR will try to test 1.0890 resistance and may reach 1.0930 too, but above it will face some bears and i doubt the further progress will succeed. On tuesday we have the Germany's unempoyment rate and unemployment change together with the Eurozone's Flash Harmonized Index of Consumer Prices. Later on Tuesday we shall have the USA consumer confidence which may reverse any EUR gains so be careful. I expect some consolidation to bearish trade on Wednesday ahead of minutes of ECB's monetary policy meeting which will be released on Thursday. EUR then is likely to become again under downside pressure, but this depends much on US trade ballance and US jobless claims report. Friday is a holiday and most of the markets will remain closed. I expect to end this week somewhere above 1.0520 and below 1.0660. More upside we may expect only on a Daily close above 1.1030.
GOLD was making gains all days from previous week and reached the 1220 resistance, however that was strong enough to bounce bac the price and currently we are at the 1191 support, main support is at 1178-1182 area, breaking below that will test 1152 again, while a Daily close above 1220 will encourage bulls to test 1238-1246-1255 resistances.
NZD has returned back to Daily Senkou Span B price and here we have a pretty wide and strong support area between 0.7530 and 0.7485 which will stop almost any downside move. The main support is at 0.7450 and breaking below will reverse the outlook to bearish. Currently support testing is taking place.
AUD price was rejected by the negative Ichimoku cloud last week and we are now sad and unhappy below the strong resistance 0.7750. We need to break above 0.7790 here to change the bearish outlook. Below 0.7730 the pair is more likely to test the 0.7630 support and then 0.7580.
JPY continues consolidation with some bearish tone, but Daily and H4 indicators are turning to the upside again. Seems that the dollar may try to jump and test the 119.90 resistance however we need a Daily close above 120.40 to continue the upside . Any drop below 120.00 if reached will lock the pair in another consolidation episode.
GBP still finds support at 1.4850 as we are approaching a very thin Daily negative Ichimoku area and this may cause some sudden jumps higher. But this morning the pair has more bearish behavior than bullish. Of course this may change later this week if we have some dollar uncertainty. Next support is at 1.4810 and below we are going to test 1.4735 and 1.4620 again. to the upside we have a strong resistance at 1.4880.
RUB continues to gain lost positions back and now for the dollar will be hard to take the price above 60.00. There are two strong resistance areas at 59.10 and at 60.20. Only a break above the second may test the 62.60 final resistance. For now indicators on Daily and H4 are bullish but breaking below 57.10 will reverse the outlook to bearish.
LONG EUR above 1.0915 SL 1.0900 TP 1.1015-1.1025-1.1080
SHORT EUR below 1.0810 SL 1.0825 TP 1.0750-1.0680-1.0610-1.0570-1.0520
SHORT GOLD below 1196 SL 1199 TP 1191-1182-1178-1166-1152
LONG GOLD above 1202 SL 1199 TP 1212-1216-1222-1226-1238