EUR has paused the high speed downside which started in December. However the downside is still far from over. On H4, Daily, Weekly and Monthly the indicators are bearish and for now do not show any signs of correction. To start a correction we need a H4 close above 1.1360 first, next resistance comes at 1.1480, above that will open the way to 1.1650 and 1.1800. To the downside things are much easier first support comes at 1.1270, followed by 1.1200 and 1.1140 , finally 1.1097 which was the last week's low. Today Manifacturing PMI data will be released for EU countries and the Manifacturing ISM for the USA later. I expect some range trade today. Non-manifacturing ones will be released on Wednesday. Some higher volatility is expected on Thursday and Friday when NFP will be released this may help the EUR to recover further.
GOLD has lost the 1278 support but the next one 1252 which is the Daily SMA200 has caught the downside push and the price bounced back to 1278-1282 resistance area. We need a Daily close above 1282 to continue with the upside again. However the price is still far from the positive Daily Ichimoku cloud and upside continuation can be delayed for now. It is quite possibe the price to test the stornger support area at 1218-1225 before any new upside attempt. Above 1220 you may enter LONG and enter SHORT below 1284.
NZD is also trying to recover to the upside but it will be difficult. First resistance comes at 0.7270-80, next comes at 0.7310 and finally 0.7355. Downside target remains at 0.6870. Daily indicators are bearish but show some limited recovery to the resistances i have written above.
AUD is also bearish and the situation here is much similar to NZD, we shall have the RBA rate decision tomorrow, no surprises are expected, but who knows, stay alert and place stops for any unexpected moves. The price here has stopped at the Monthly SMA200 and any weekly close below 0.7780 can put the pair into a free fall state, so the situation now is quite dangerous for the bulls. Upside target is 0.7830, then 0.7870 and finally 0.7920 above that tharget will be 0.8015 and then 0.8080. Sell below 0.7760.
JPY consolidates inside the positive Ichimoku clod and the dollar still has chances of escaping to the upside but first it has to deal with the 117.80 and 118.75 resistances. Any fail to close today above 118.00 will be a negative sign for the recovery. 117.50 serves as support for now and above it we have chances for attacking and breaking 118.00 but below you'd better exit longs and may enter short for 117.16 and below.
GBP is supported by the 1.5070 for now. The pair is in a consolidation for now and has the potential of upside recovery. On Thursday we shall have the BoE rate decision and the pair is likely to continue consolidation in range until then. You may use 1.5070 as reversal point and open long above that or short below that. Consolidation range will be between 1.4960 and 1.5140.
RUB is again under dollar pressure. The pair is bullish above 68.00 on daily frame. On H4 frame the support is 68.40 followed by 66.60 and the last strongest one is 62.40. Only below the last any significant downside recovery may happen. Above 68.60 you may go long.
For today:
SHORT EUR below 1.1300 SL 1.1310 TP 1.1260-1.1240-1.1210-1.1175-1.1135-1.1097
LONG EUR above 1.1360 SL 1.1350 TP 1.1430-1.1460-1.1540
SHORT GOLD below 1284 SL 1287 TP 1262-1254-1236-1228-1222
LONG GOLD above 1218 SL 1215 TP 1232-1248-1254-1268-1280
