US housing data: Tuesday, 12:30. There is a significant correlation between the housing sector and the wider economy. Building permits stabilized at 1.23 million (annualized) in July. A small slide to 1.22 million is predicted. Housing starts were somewhat lower, at 1.16 million and are now projected to rise to 1.18 million.
USD
US housing data
- EURUSD
As could be seen on the chart above that the pair is traded within an ascending channel. The pair is traded right now above the downside of the pattern. Also, the pair is traded above a strong support level that could be found at 1.1834. We believe that as long as the pair is traded above these levels, it is highly recommended to go long targeting the level of 1.2000 followed by 1.2100. On the other hand, breaching the level of 1.1800 can open the door for further downward movement during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.2000 ▪ 1.2100 |
▪ 1.1900 ▪-1.1850 ▪ 1.1800 |
We remain bullish as long as the pair is traded above the level of 1.1850. |
- GBPUSD
As could be seen on the chart above that the pair is traded above a strong support level that could be found at 1.3450 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1.3650 followed by 1.3700 during the week. This is conditioned by the continuation of trading above the level of 1.3450.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.3700 ▪ 1.3650 |
▪ 1.3450 ▪ 1.2800 ▪ 1.2700 |
We remain bullish as long as the pair is traded above the level of 1.3450. |
- GOLD
Bearish pressures are expected as long as the pair is traded below the level of 1375. The pair may continue going down to reach the level of 1300 followed by 1295 during the week. This is conditioned by the continuation of trading below the level of 1375.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1350 ▪ 1340 ▪ 1375 |
▪ 1300 ▪ 1295 ▪ 1200 |
We remain bearish as long as the pair is traded below the level of 1375. |
- AUDUSD
As could be seen on the chart above that the pair is traded below a strong resistance level at 0.8100 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 0.7650 during the week. This is conditioned by the continuation of trading below the level of 0.8100.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.8100 ▪ 0.8060 |
▪ 0.7600 ▪ 0.7500 |
Expected to show bullish pressures |
- GBPJPY
As could be seen on the weekly chart that the pair is traded above a strong support level that could be found at 150 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 154 followed by 155 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 152 ▪ 151 ▪ 155 |
▪ 148 ▪ 147 |
Expected to show more bearish pressures. |
