12 December 2018

US CPI: Wednesday, 13:30. In the recent report for October, the headline Consumer Price Index advanced by 0.3%, and Core CPI by 0.2%. While the monthly figures were OK, the year over year Core CPI decelerated to 2.1%. The Federal Reserve’s preferred inflation measure, Core PCE, consequently dropped to 1.8% y/y. The fresh CPI data for November will provide fresh input for the Fed ahead of its rate decision.

USD
US CPI

EURUSD

Update: We remain the same. The daily timeframe shows that the pair is traded above a strong support level that could be found at 1.1217. We also find that there is a good bearish opportunity around the downtrend line that is in case the pair reaches this level and shows up some bearish evidence so if this happens, we can go short targeting the level of 1.1217 during the week.

Resistance levels:	Support levels:	Recommended:
▪ 1.21 ▪ 1.1850 ▪ 1.18	▪ – ▪ 1.1217 ▪ 1.10	Waiting for the pair to reach the downtrend line.

GBPUSD

Update: The breakout is not confirmed yet. The pair managed to break through a strong support level that is 1.2550 so if the pair confirms the breakout of this level by a daily close, we can go short targeting the level of 1.2370.

Resistance levels:	Support levels:	Recommended:
▪ 1.36 ▪ 1.3350 ▪ 1.29	▪ 1.2550 ▪ 1.2370 ▪ 1.23	Waiting for the pair to confirm the breakout of the level of 1.2550.

GOLD

Update: We remain the same. The pair managed to breakthrough a strong resistance level (1240) so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1245 followed by 1250 during the week. In case the pair goes down to the short-term uptrend line and shows up some bullish evidence above it, we can go long targeting the level of 1240 again.

Resistance levels:	Support levels:	Recommended:
▪ 1330 ▪ 1245 ▪ 1250	▪ ▪ 1180 ▪ 1170	We are bullish as long as the pair is traded above the level of 1240.

AUDUSD

Update: We remain the same. As could be seen on the daily chart that the pair is about to reach a support area around 0.7030 so we believe if the pair goes down to reach this area and shows up some bullish evidence, we can go long targeting the level of 0.7350.

Resistance levels:	Support levels:	Recommended:
▪ 0.7550 ▪ 0.7600 ▪ 0.7260	▪ 0.7000 ▪ – ▪ –	Waiting for the pair to reach the level of 0.7030.

GBPJPY

Update: We remain the same. The daily timeframe shows that the pair is about to reach a strong support level that is 140.50 so in case the pair reaches this level and shows up some bullish evidence, we can go long targeting the level of 144 during the week. This is conditioned by the continuation of trading above the level of 140.50.

Resistance levels:	Support levels:	Recommended:
▪ 156 ▪ 155 ▪ 149	▪ 140.50 ▪ 140 ▪ 139	WAITING FOR THE PAIR TO REAHC THE SUPPORT LEVEL OF 140.50

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