12 February 2020
powered by Land-FX
Industrial Production: Wednesday, 10:00. This manufacturing indicator improved to 0.2% in November, up from -0.5%. However, this missed the forecast of 0.3%. Analysts are braced for a decline of 1.8% in December.
EUR
Industrial Production
- EURUSD
As could be seen on the chart above that the pair is traded above a strong support level that is 1.0888. Therefore, we are bullish as long as the pair is traded above it. Our first target is 1.0980.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.1150 ▪ 1.1100 ▪ 1.1090 |
▪ 1.0888 ▪ 1.0800 ▪ 1.0720 |
We are bullish as long as the pair is traded above the level of 1.0888 |
- GBPUSD
The chart above shows that the pair is traded above a strong support 1.2889. Therefore, we will be waiting for the pair to reach that area then in case the pair shows up bullish evidence, we can go long targeting the level of 1.3100.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.3400 ▪ 1.3350 ▪ 1.3300 |
▪ 1.2900 ▪ 1.3000 ▪ 1.2850 |
Waiting for the pair to reach the area mentioned in the report. |
- GOLD
The chart above shows that the pair is traded within a bullish channel shown on the chart above. So, we will be waiting for the pair to reach the downside of the channel then we can go long targeting the level of 1579 in case the pair shows up bullish evidence above the downside of the channel.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1590 ▪ 1587 |
▪ 1570 ▪ 1565 ▪ 1555 |
Waiting for the pair to reach the downside of the bullish channel. |
- AUDUSD
The chart above shows that the pair is traded above a strong support level that is 0.6666. Therefore, we are bullish as long as the pair is traded above it. Our first target is 0.6750.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.7123 ▪ 0.6988 ▪ 0.6820 |
▪ 0.6750 ▪ 0.6684 ▪ 0.6600 |
We are bullish as long as the pair is traded above 0.6666. |
- GBPJPY
The chart above shows that the pair is traded above a strong support level that is 141. Therefore, we are bullish as long as the pair is traded above it. Our first target is 142.50 followed by 144.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 146.50 ▪ 146.00 ▪ 144.20 |
▪ 141 ▪ 140.50 ▪ 140.00 |
We are bullish as long as the pair is traded above 141 |
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