Dollar gained much strength these days as FED continues to cut the stimulus program. USD has made significant advance against everything, but it seems that after yesterday's decision it is time for profit taking, so we have some pullback eveywhere. I expect the EUR to try to recover back to 1.3450-65 today or tomorrow. Another dollar push below 1.3375 may take the pair down to 1.3330. There we have a strong support area which is not going to be brokens soon, so you may enter LONG close to 1.3330.

GOLD is again at the support 1292 and the final support is at 1272. Going below is not likely too, so use dips to 1272 to enter LONG but do not allow more than 5 USD against you.

NZD has touched the Daily SMA200 yesterday and bounced back to 0.8500 support. I think entering LONG above 0.8460 is a good idea, because i expect here a quick recovery next week. If we have a drop to main support area at 0.8420-40 it is good to enter LONG there.

AUD needs upside correction too, but the downside move is not over yet. AUD couldn't find a good support to bounce back. First support is ar 0.9310, the main one is at 0.9280. Try to enter LONG close to second one, but don't forget the SL.

JPY finally doomed with the dollar push higher the pair has reached 103.08. This is not enough to restore the upside but could be a start of another test of 105.10. Enter LONG above 102.55, SL 102.35

GBP is pushed below the Daily Senkou Span A price but pound seems not giving up so easily and today or tomorrow will try to gain back above 1.6930. To exit the trap bulls need to take the price above 1.7020, which is pretty difficult right now. Currently the pair is in a consolidation mode and i expect rangre trade here.

RUB is badly hit by the dollar too, the pair has reached almost 36.00, but ahead of it bulls quickly took their profit and we had a 40 pips pullback. Daily indicators are still bullish, but starting to turn south, smaller time frames are mixed to bearish. Maybe a correction to the downside will follow to 35.20 for example. The pair is bullish above 35.55

For today:

LONG EUR above 1.3375 SL 1.3365 TP 1.3405-1.3435-1.3450-1.3465

SHORT EUR below 1.3370 SL 1.3380 TP 1.3340-1.3310

LONG GOLD above 1292 SL 1289 TP 1298-1305-1308-1315-1322

SHORT GOLD below 1288 SL 1292 TP 1278-1272

Good luck!

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Comment by momochi on July 31, 2014 at 8:02am

think there is a large option expiry on AU , strike at 0.9250 on friday , something to bear in mind.

Comment by Vladimir Mihaylov on July 31, 2014 at 10:01am
i am not trading options, i can't help with this, sorry
Comment by momochi on August 1, 2014 at 9:54am

no i just mean that price will be drawn to that area, 20 pips to go...


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