USD
Yesterday USD updated the maximum against EUR, which is now close to the resistance level of 1.5. This level serves as a strong resistance, which is not likely to to break it at the first attempt, and the price will test it for some time.
Today there will be no important data on the American economy. Among the statistics it is worth to pay attention to the oil reserves in the United States, which are expected to grow and thus they will have some resistance to the strong increase of the price of raw materials, which is being observed.
Among European statistics attention will be drawn to the manufacturing production - Industrial production, but as expected the data will not have a significant impact on the market.
GBP
GBP/USD is being traded in the area of its historic highs. It is expected that these marks in the area of price will turn out and change the ascending trend to descending one.
Further growth of the pair is restricted by the level of resistance 2.0250 (50% descending movement), from which it is recommended to open short positions with intermediate purpose at 1.9870 (closing of a second three-year cycle (see graph)), the main purpose at 1.9420 (the current support), and a strategic purpose at 1.9175 (closure of the first three-year cycle). However, if the price does not reach those marks, GBP can be sold from the current positions, but in any case the protective order needs to be put above 2.0450.
The British economy today will issue data on the trade balance, which in the case of bad figures will help to change the trend of ascending GBP/USD to descending one.
JPY
USD/JPY is located near the mark 103. Correctional rise to the level of 111.80 (closure of the year and 50% of the price) has not been foreseen yet as well as the confidence in USD is still weak, but the situation may change at any time.
Once statistics show that in general the crisis in the United States does not pose a threat to the U.S economy, the dollar will get strong support which helps remove all imbalances in the market accumulated since then.
Because of the strong oversold it is not recommended to open short positions, although further short-term decline is possible.
GOLD
Gold is being traded in lateral shrinking range. Technical analysis shows that the completion of the lateral trends happens soon, and the exit in the upper trend is possible. However, the opening positions are not without risk, because the price has not made a technical correction after growth. If increased risk is not taken into account, it is recommended to open positions from current levels with Stop Orders below the line of support of the ascending trend, preferably below the mark $ 960 per troy ounce. The nearest aim is $1000, but in the case of breaking price may increase more higher.
the source of info:
PoltekFX Analytics