UK Inflation Report: Wednesday, 6:00. Consumer inflation continues to fade, falling to 1.5% in March. This was down from 1.5% and was the weakest reading in four months. The core figure dropped from 1.7% to 1.6%. In April, the projection is 0.9% for the headline reading and 1.4% for core CPI.
Eurozone Inflation: Wednesday, 9:00. Inflation has fallen sharply as the eurozone economy has been paralyzed by the Covid-19 outbreak. The initial April read fell to 0.4%, and the final reading is expected to confirm this figure.
GBP
UK Inflation Report
EUR
Eurozone Inflation
- EURUSD
Update: We remain the same. The chart above shows that the pair is trading below a strong resistance level that is 1.1000. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.0875.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.1050 ▪ 1.1025 ▪ 1.1000 |
▪ 1.0875 ▪ 1.0850 ▪ 1.0800 |
We are bearish as long as the pair is trading below the level of 1.1000. |
- GBPUSD
Update: No changes. As could be seen on the chart above that the pair is trading below a strong resistance level 1.2300. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.2170.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.2450 ▪ 1.2430 ▪ 1.2300 |
▪ 1.2170 ▪ 1.2150 ▪ 1.2100 |
We are bearish as long as the pair is trading below the level of 1.2300. |
- GOLD
Update: We remain the same. As could be seen on the chart above that the pair is trading above a strong support level that is the uptrend line. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1750 followed by 1760.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1770 ▪ 1760 ▪ 1750 |
▪ 1720 ▪ 1715 ▪ 1710 |
We are bullish as long as the pair is trading above the uptrendline. |
- AUDUSD
Update: Still trading below the resistance level. As could be seen on the chart above that the pair is trading below a strong resistance level that is 0.6600. Therefore, we are bearish as long as the pair is trading below it. Our first target is 0.6375 followed by 0.6530 followed by 0.6500.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.6700 ▪ 0.6650 ▪ 0.6600 |
▪ 0.6530 ▪ 0.6500 ▪ 0.6480 |
We are bearish as long as the pair is trading below the level of 0.66. |
- GBPJPY
Update: The pair has started going downwards as expected. As could be seen on the chart above that the pair is trading below a strong resistance level that the downtrend line. Therefore, we are bearish as long as the pair is trading below it. Our first target is 130.50.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 133.20 ▪ 132.50 ▪ 132.35 |
▪ 130.50 ▪ 130.15 ▪ 130.00 |
We are bearish as long as the pair is traded below the downtrend line. |
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