JOLTS Job Openings: Wednesday, 14:00. The number of job openings in the US economy is eyed by the Federal Reserve, even if it is a lagging indicator. In July, the number of openings remained above 6 million annualized, at 6.17 million, beating expectations. A level of 6.06 is on the cards now.
FOMC Meeting Minutes: Wednesday, 18:00. In the September, meeting, the announced the beginning of reducing its balance sheet, as widely expected. They also left their rate hike projections unchanged for 2017 (one more hike) and 2018 (3 hikes). The eagerness to continue raising rates comes despite slower inflation, something that Fed Chair Yellen described as a “mystery”. The minutes from that meeting are released now. It is important to note that the text is edited until the very last minute, leaving room for sending the desired message to markets. The focus will be on how worried they are of low inflation.
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JOLTS Job Openings
FOMC Meeting Minutes
- EURUSD
Update: still traded below the resistance level of 1.1834. As could be seen on the chart above that the pair is traded below a strong resistance level that could be found at 1.1834 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.1660.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.2000 ▪ 1.2100 ▪ 1.1840 |
▪ 1.1700 ▪-1.1650 ▪ 1.1600 |
We remain bearish as long as the pair is traded below the level of 1.1834. |
- GBPUSD
Update: We remain the same. The pair is about to reach a strong support level (our base) that is where we can go long so we will be waiting for the pair to reach the uptrend line shown on the chart in red then if it shows some positive factors we can go long targeting the level of 1.3300 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.3700 ▪ 1.3650 |
▪ 1.3300 ▪ 1.3200 ▪ 1.2700 |
We remain bullish as long as the pair is traded above the uptrend line |
- GOLD
Update: the pair is on its way to the level of 1300. The pair is traded above a strong support level that can be found at 1267 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1290 followed by 1300 during the week. On the other hand, if the level of 1267 is breached then we can go short targeting the level of 1260 followed by 1250.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1350 ▪ 1340 ▪ 1290 |
▪ 1267 ▪ 1265 ▪ 1260 |
We remain bullish as long as the pair is traded above the level of 1267. |
- AUDUSD
Update: Still traded below the level of 0.7800. The pair successfully managed to break through a strong support level 0.7800 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 0.7600 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.8100 ▪ 0.8060 |
▪ 0.7600 ▪ 0.7500 |
We remain bearish as long as the pair is traded below the level of 0.7800. |
- GBPJPY
Update: We remain bullish. As could be seen on the daily chart that the pair is traded above a strong support level that is the uptrend line so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 150 followed by 150 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 152 ▪ 151 ▪ 155 |
▪ 148 ▪ 147 |
Expected to show more bullish pressures. |
