German Final GDP: Friday, 7:00. The final German GDP release is expected to confirm the previous read of 0.6% q/q growth. The locomotive of the euro-zone grew by an even faster clip in Q3: 0.8%.
Final CPI: Friday, 10:00. Headline inflation has been grinding lower, slipping to 1.3% in the preliminary read for January. However, core inflation enjoyed a small rise to 1% after a few months of disappointments. The final figures will likely confirm the initial ones.
USD
German Final GDP
FInal CPI
- EURUSD
Update: The pair reached 1.2259 so it was about 10 pips away from our target. As could be seen on the daily chart that the pair is traded below a strong resistance level that is 1.2530. Therefore, we are bearish as long as the pair is traded below it that it may reach the level of 1.2250 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.2530 ▪ — ▪ — |
▪ 1.21 ▪ 1.1600 ▪ 1.1550 |
We are bearish as long as the pair is traded below the level of 1.2530. |
- GBPUSD
Update: The pair did not move too much this week. As could be seen on the daily chart that the pair is traded in nowhere to enter the market. So, we will be waiting for the pair to reach the level of 1.4270 (this is where we can go short) or 1.3770 (where we can go long). No trading is recommended till the pair reaches on of these levels.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.4100 ▪ 1.3970 ▪ — |
▪ 1.3800 ▪ 1.3700 ▪ 1.3600 |
Waiting for the pair to reach on of the levels mentioned in the report. |
- GOLD
Update: First target was hit. Our 2nd target is 1320 >> our weekly targets were hit. congratulations on this. As could be seen on the daily chart that the pair is traded below a strong resistance level that is 1360. So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1330 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1350 ▪ — ▪ — |
▪ 1310 ▪ 1300 ▪ 1290 |
We remain bearish as long as the pair is traded below the level of 1360.. |
- AUDUSD
Update: We remain the same. The level of 0.7850 was broken so the way is open for the pair to reach the level of 0.7750. As could be seen on the daily chart that the pair is traded above a strong support level that could be found at 0.7850. So, we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 0.8000 during the week. On the other hand, breaching the level of 0.7850 can open the door for further downward movement during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.8000 ▪ 0.7900 ▪ — |
▪ 0.7737 ▪ 0.7600 ▪ 0.7500 |
We are bullish as long as the pair is traded above the level of 0.7850. |
- GBPJPY
Update: The breakout of the downside of the channel is not confirmed yet. As could be seen on the char above that the pair is traded within an ascending channel. It is traded right above the downside of the channel so we can go long targeting the level of 152 during the week. On the other hand, breaching the downside of the ascending channel can open the door for further downward movement during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 156 ▪ 155 |
▪ 148 ▪ 147 |
We remain bullish as long as the pair is traded above the downside of the pattern. |
Disclaimer: The information contained in this publication is produced by Land-FX and not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects Land-FX current judgment and may change without notice. This message is for information purposes only and is not intended as an offer, recommendation or solicitation to buy or sell, nor is it an official confirmation of terms. No representation or warranty is made that this information is complete or accurate. Any views or opinions expressed do not necessarily represent that Land-FX. This email and the information it contains may be confidential, proprietary or legally privileged. You must not, directly or indirectly, use, disclose, distribute, copy or store this message or any part of it if you are not the intended recipient. Unless otherwise stated, any pricing information given in this email is indicative only, is subject to changes and does not constitute an offer to deal at any price quoted.
