Daily Technical Analysis Forex & Gold

Daily Forex Technicals | Written by Mizuho Corporate Bank
EURUSD
Comment: Pity it did not manage a monthly and quarterly close above 1.4200. Until then we shall have to allow for yet more random consolidation within the recent range. Strategy: Attempt longs at 1.4020; stop below 1.3800. Short term target 1.4135, then 1.4300/1.4339.Direction of Trade: →↗Chart Levels:
Support Resistance
1.4000 " 1.4153
1.3982 1.4178
1.39 1.42
1.3872 1.423
1.3800* 1.4339**
GBPUSD
Comment: The strongest monthly close since September and a quarterly close over 20 cents above the previous one underlines how far Cable has moved in the last 12 months (high 2.0162 and low 1.3500). Unfortunately yesterday's relatively large 'spike high' hints that we shall hold below that high (1.6745) for the rest of this week at least. Strategy: Attempt small longs at 1.6420; stop below 1.6175. First target 1.6550/1.6600.Direction of Trade: → Chart Levels:
Support Resistance
1.6381 " 1.6488
1.6368 1.655
1.6274 1.6664
1.6209 1.6745*
1.6187* 1.68
USDJPY
Comment: Disappointing as we rally into a relatively large Ichimoku 'cloud' and above moving averages. Monthly and quarterly closes are not significant meaning we shall have to allow for more messy consolidation this week. Strategy: Attempt small shorts at 96.70; stop above 97.40. First target 96.00 then 95.00.Direction of Trade: →↘Chart Levels:
Support Resistance
96.17 " 96.58
95.95 97
95.5 97.27/97.37*
95.3 97.65
95 98
Daily Forex Technicals | Written by India Forex
Rupee :Rupee had broken the trendline of 48.10. As discussed ONLY holding below 48.10 would have changed the trend towards rupee bullishness but the dollar recovered fast breaking 48 again on the upside. Holding above 48.10 is still rupee bearish . Caution : Only if we get another closing below 47.85 the stands reversed. Still Bearish (USD/INR : 48.10)
Gold :Gold was unable to hold above 943 dollars and fell down close to 20 dollars in the US Session. Still holding bearishness. (Gold- $929.00). Bearish.
Dollar Index :Dollar index extends the rebound from 79.56 and is set to take on 80.94. We're anticipating a break of 80.94 resistance to signal resumption of rise from 78.33, to be confirmed by break of 81.36/47 resistance zone. Further rally should be seen to next key resistance at 82.62 (38.2% retracement of 89.62 to 78.93 at 82.64). in such case. (DI- 80.10) Still Bullish