Australian MI Inflation Expectations: Thursday, 1:00. This Melbourne Inflation is closely watched, as inflation expectations can translate into actual inflation figures. The April gain of 3.4% was well off the 4.6% clip seen a month earlier. Inflation levels have been soft, and this could be reflected in a smaller gain in May compared to April.
US Unemployment Claims: Thursday, 12:30. Jobless claims continue to drop, albeit at a slow rate. Last week’s figure of 1.87 million marked the first time claims have been below the 2-million level since mid-March. The upcoming forecast stands at 1.55 million.
EUR
Eurozone Revised GDP
USD
US Jolts Job Openings
- EURUSD
Update: On its way to its final target. The chart above shows that the pair is trading below a strong resistance level that is 1.1377. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.1300 followed by 1.1250.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.1400 ▪ 1.1377 ▪ 1.1350 |
▪ 1.1300 ▪ 1.1280 ▪ 1.1240 |
We are bearish as long as the pair is trading below the level of 1.1377. |
- GBPUSD
Update: The target if the upside was hit and also the target of the downside was hit. As could be seen on the chart above that the pair is trading above a strong support level 1.2644. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1.2800. On the other hand, if the level of 1.2644 is broken, we can go short targeting the level of 1.2600
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.2850 ▪ 1.2800 ▪ 1.2750 |
▪ 1.2644 ▪ 1.2600 ▪ 1.2580 |
We are bullish as long as the pair is trading above the level of 1.2644. |
- GOLD
Update: Final target was hit. As could be seen on the chart above that the pair is trading above a strong support level that is 1700. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1720 followed by 1740.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1740 ▪ 1730 ▪ 1720 |
▪ 1700 ▪ 1690 ▪ 1670 |
We are bullish as long as the pair is trading above the level of 1700. |
- AUDUSD
Update: Final target was hit. As could be seen on the chart above that the pair is trading below a strong resistance level that is 0.7000. Therefore, we are bearish as long as the pair is trading below it. Our first target is 0.6850 followed by 0.6830
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.7500 ▪ 0.7300 ▪ 0.7000 |
▪ 0.6880 ▪ 0.6820 ▪ 0.6800 |
We are bearish as long as the pair is trading below the level of 0.7000 |
- GBPJPY
Update: Final target was hit. As could be seen on the chart above that the pair is trading below a strong resistance level that 137.40. Therefore, we are bearish as long as the pair is trading below it. Our first target is 135.00 followed by 134.25.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 138.00 ▪ 137.40 ▪ 137.20 |
▪ 135.00 ▪ 134.25 ▪ 134.00 |
We are bearish as long as the pair is traded below the level of 137.40. |
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