Vladimir Mihaylov
Independent Analyst
EUR slowly recovers and makes its way through 1.1000. First resistance comes at 1.1020 as this is the H4 Senkou Span B price and breaing of it will escape from the negative H4 cloud which can be a good start ot the future recovery above 1.1100, which is the next resistance. The price is now supported by 1.0910. EUR has some upside potential but is possible to have some choppy trade and on Thursday and Friday to test 1.1100 and above. Volatility is very low bacause of the summer season and most traders will wait for the 20th of august when Greece is due to pay a huge amount of money. So it is quite possible to continue the consolidation to bullish mode until then.
GOLD seems has bulit some support above 1090, but Daily and Weekly indicators are heavy bearish. First resistance is 1104 and first support is at 1090. Around 1116 we shall face strong resistance of the H4 negative cloud, and any further recovery is possible only on a Daily close above 1130 which is pretty far from the current levels. I expect some range trade for this week between 1116 and 1090. any break below the support may cause another 20 USD slide for example.
NZD still is not able to close the day above 0.6625, this will be the signal for a recovery which is much needed at the moment however slide continues and the current support is 0.6500. Any break below 0.6560 will target 0.6500 and below once ahain.
AUD dropped again on Friday to 0.7260, the process here is quite similar to NZD. Below 0.7310 we are bearish on H4. H1 shows some recovery signs but the price is capped by 0.73-0.7310 resistance area and breaking above is needed to start any recovery. Any drop below 0.7280 will target 0.7250 first.
JPY has stopped the dollar progress at least for now. JPY is in a recovery mode pushing the price to the downside below 123.80. As long as we are below this we are bearish and the first target is 123.20 then 122.80 and finally 121.40. Below the last downside will gain more fresh power. Upside will be restored on a Daily close above 124.00.
GBP consolidates as the price was not able to stay above 1.5600 for a long time. first resistance is at 1.5560 and is followed by 1.5610. Only on a Daily close above the last the upside may continue, but seems summer is a lazy season and noone wants to risk at this low volatility market. Support is at 1.5410 and this may be tested before any new upside wave.
RUB continues to loose price slowly. We are bullish above 56.75, but quick drops to 56.30 are possibe in order to create some volatility. Drops to 55.60 won't destroy the bullish outlook this week.
For today:
LONG EUR above 1.1000, SL 1.0990 TP 1.1020-1.1040-1.1080-1.1100-1.1130
SHORT EUR below 1.0980 SL 1.0990 TP 1.0960-1.0935-1.0900-1.0850
LONG GOLD above 1092 SL 1089 TP 1103-1110-1116
SHORT GOLD below 1088 SL 1091 TP 1079-1072-1067
Good luck!
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Gold hovers around all-time highs near $3,250
Gold is holding steady near the $3,250 mark, fuelled by robust safe-haven demand, trade war concerns, and a softer-than-expected US inflation gauge. The US Dollar keeps trading with heavy losses around three-year lows.
EUR/USD retreats towards 1.1300 as Wall Street shrugs off trade war headlines
The EUR/USD pair retreated further from its recent multi-month peak at 1.1473 and trades around the 1.1300 mark. Wall Street manages to advance ahead of the weekly close, despite escalating tensions between Washington and Beijing and mounting fears of a US recession. Profit-taking ahead of the close also weighs on the pair.
GBP/USD trims gains, recedes to the 1.3050 zone
GBP/USD now gives away part of the earlier advance to fresh highs near 1.3150. Meanwhile, the US Dollar remains offered amid escalating China-US trade tensions, recession fears in the US, and softer-than-expected US Producer Price data.
Bitcoin, Ethereum, Dogecoin and Cardano stabilze – Why crypto is in limbo
Bitcoin, Ethereum, Dogecoin and Cardano stabilize on Friday as crypto market capitalization steadies around $2.69 trillion. Crypto traders are recovering from the swing in token prices and the Monday bloodbath.
Is a recession looming?
Wall Street skyrockets after Trump announces tariff delay. But gains remain limited as Trade War with China continues. Recession odds have eased, but investors remain fearful. The worst may not be over, deeper market wounds still possible.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.