EUR finished the week at 1.3600 support after a quick test of 1.3550-60. The price bounced back to the upside and the pair is now bullish on all time frames. This means the recovery will continue and with the help of good PMI and IFO on Monday and Tuesday for EU and Germany the pair may reach easily 1.3750-1.3820. Breaking of 1.3650 will be the signal for this. Downside may be restored only below 1.3540, but for now we are far from that and expected fundamental data is in favor of the EUR. We have to see what the actual data will be.

GOLD entered powerfully inside the Daily negative cloud and keeps its hopes for breaking it to the upside. It is not impossible but will not lead to anything more than a test of 1331. GOLD is bullish only on Weekly and Daily, on H4 we need a downside correction, and smaller frames are neutral to bearish. Quite possible is GOLD to go back and test 1302-1305 again.

NZD for now has made another lower top, no new high has been recorded through the last week, and although it is still bullish on almost all time frames the bullish power is fading and indicators are starting to turn bearish. We shall have more light here on Monday.

AUD is back to the Daily support at 0.9380. It is bullish on Daily and Weekly but on smaller frames is mixed to bearish. We need to be back above 0.9405 to restore the upside until that there is a great possibility for beras to take the control of the pair.

JPY is currnetly protected by the resistance 102.10-102.20, breaking it higher will put the price back into the negative Daily cloud with a good possibility of breaking it to the upside. I think that at this point enterling LONG above 101.90 is a good idea.

GBP consolidates at the top above 1.7000 important level and is trying to make this level a solid support, but i think this will be a quite difficult task and we shall have another test of 1.6900 soon.

RUB still keeps the dollar below 34.50 important level.Below this we are bearish and above it we are bullish. If you do not want to risk more then you should know that the pair is bullish above 34.15 and bearish below 34.10.

Views: 530

Comment by gladwin dsouza on June 22, 2014 at 6:27pm

thanks for the update bliss u

Comment by Abdul Rehman on June 23, 2014 at 6:08am

Dear thanks for update but u did't write where to buy or sell Gold.  could you please write.


You need to be a member of Forex Social Network to add comments!


© 2018   Created by FXStreet.   Powered by

Badges  |  Report an Issue  |  Terms of Service


Live Video