21 September 2017

Japanese rate decision: Thursday, early morning, the exact time is unavailable. The Bank of Japan is not really successful in achieving the 2% inflation goal, to say the least. The future of Governor Kuroda also hangs in the balance. The BOJ is unlikely to change its policy now: holding 10-year yields at 0%. They are probably pleased with the most recent weakening of the Japanese yen.

US jobless claims: Thursday, 12:30. This weekly barometer has risen from its low range, probably due to the hurricanes. At 284K last week, it is now expected to rise to 300K.

USD
US jobless claims

JPY
Japanese rate decision

 

  • EURUSD

Update: Yesterday’s candle was bearish but the pair is still traded above the support levels mentioned in the report. So, we remain bullish. 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 1.1800.
  • GBPUSD

Update: Yesterday’s candle was a reversal candle so this may help the GBP to gain value against the American dollar. 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

Update: The pair managed to reach the support levels (our weekly targets) Now let’s see how the pair will behave around the support level of 1292. 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

Update: The pair went up in yesterday’s trading session that it reached the level of 0.8100, then it bounced bearishly heading towards our first target at 0.7600. 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

Update: We remain the same. No changes. 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.