Happy and profitable year 2016

Wish you all a highly profitable Happy New Year 2016!!!I will start with some quick overview of this year's FOREX future outlook. FED has already started rising the interest rate and this process will continue through this year and the expectations are for it to reach around 1.35% by the end of this year. It is also expected USD to gain strength against all major currencies except GBP. The biggest loosers are expected to be AUD and NZD. However i must say that these are not my expectetions, but these are mostly rumors. In fact the real picture for the EUR will be more bearish than bullish this year. Parity with dollar is closer than ever and will become reality in a few months. I expect the EUR to drop below 1.00 this year too. For now i can figure out 0.96 as a potential target.Let's take now a look over the charts:EUR will look for support at 1.0820, first resistance comes at 1.0880, then 1.0920, and the bearish outlook will be reversed obly above 1.0945. On the other side a drop below 1.0800 will start a fresh downside move to 1.0690 and 1.0590. Then the pair will look for support around 1.0540 which was the last month's bottom.GOLD will continue to loose price however some quick jumps to 1072 are possible. Gold is into a downside trend which can be seen on Weekly and Monthly. Daily chart shows some consolidation to bearish move. Support area is 1050. For now every jump will be used to open short positions at a better price. Jumps over 1085 are not expected for now as my indicators keep telling me.NZD bounced back from the 0.6880 resistance but still doesn't give up with the idea to reach and attack the main resistance at 0.6950. If we have a clear break there the move will continue to 0.71. NZD will rely on two main supports, the first one is 0.6780 and the second one is 0.6760. if the second one is broken then a 100 pips drop will follow and maybe more.AUD price is locked in a 100 pips range between 0.7240 and 0.7340. It is not clear enough what direction will develop so you'd better stay away until one of the above is broken.JPY met some problems at 123.00-124.00 area, and unhappyly returned back to 120.00 support. Once below 120.00 the pair will target 118.50 support.GBP has finished last month of 2015 with a signficant slide, we had a big slide in november 2015 too. There is a support at 1.4650 which may stop the continuous slide. On all time frames the pair is extremely bearish and more slide is expected soon.RUB has a high volatility during the last day of 2015. The pair remains bullish above 70.00. Once above 73.50 you may enter LONG for 75.00 and above. Below 69.50 the pair will look for support at 67.50, but this is the less possible scenario for now.
Good luck!!!

http://www.fxstreet.com/analysis/todays-forex-forecast/2016/01/03/

Some consolidation ahead of FOMC this week

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.

http://www.fxstreet.com/analysis/todays-forex-forecast/2015/07/27/

Support & Resistance for USD/CAD

For today

R4 - 1.1982 / R3 - 1.1954 / R2 - 1.1900 / R1 - 1.1878

SPOT 1.1820

S1 - 1.1720 / S2 - 1.1704 / S3 - 1.1674 / S4 - 1.1599    

LONG AT 1.1790 FOR 1.1954; STOP AT 1.1720