Eurozone Flash PMIs: Tuesday, 7:15 in France, 7:30 in Germany, and 8:00 for the whole eurozone. The services sector remains in contraction but did show some improvement in the April data. The German and eurozone services PMIs were just above the 30-level, while the French indicator improved to 36.6 points. The manufacturing sector also continues to contract, with readings in April well below the 50-level, which separates contraction from expansion. German Manufacturing PMI rose to 36.6, the eurozone indicator came in at 39.4, and French Manufacturing PMI climbed to 40.6 points. The initial readings for May are projected to improve but remain in contraction territory.
UK Flash Manufacturing PMI: Tuesday, 8:30. The manufacturing sector has been in contraction mode, as factories have been forced to shut down or operate at limited capacity in the wake of the Covid-19 pandemic. In May, the PMI came in at 40.7 and the initial read for June stands at 45.2 points.
UK Flash Services PMI: Tuesday, 8:30. The services sector has been hit hard as much of the UK economy has ground to a standstill. The Services PMI improved to 29.0 in May, up from 13.4 beforehand. Analysts are projecting a strong improvement in the initial June release, with an estimate of 39.1 points.
US Manufacturing PMI: Tuesday, 13:45. After a weak read of 39.8 in April, the PMI is expected to climb to 50.0, which separates contraction from expansion. If this estimate is accurate, we could see the U.S. dollar improve.
EUR
Eurozone Flash PMIs
GBP
UK Flash Manufacturing PMI
UK Flash Services PMI
USD
US Manufacturing PMI
- EURUSD
The chart above shows that the pair is trading below a strong resistance level that is 1.1350. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.1250 followed by 1.1200.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.1350 ▪ 1.1325 ▪ 1.1300 |
▪ 1.1250 ▪ 1.1200 ▪ 1.1150 |
We are bearish as long as the pair is trading below 1.1350 |
- GBPUSD
As could be seen on the chart above that the pair is trading below a strong resistance level that is 1.2550. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.2400 followed by 1.2350.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.2650 ▪ 1.2615 ▪ 1.2550 |
▪ 1.2400 ▪ 1.2350 ▪ 1.2300 |
We are bearish as long as the pair is trading below the level of 1.2550. |
- GOLD
As could be seen on the chart above that the pair is trading above a strong support level that is 1765. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1770 followed by 1780. On the other hand, if the level of 1765 is breached, in that case, our target would be 1750.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1780 ▪ 1775 ▪ 1770 |
▪ 1765 ▪ 1760 ▪ 1750 |
We are bullish as long as the pair is trading above the level of 1765. |
- AUDUSD
The chart above shows that the pair is trading below a strong resistance level that is 0.6980. Therefore, we are bearish as long as the pair is trading below it. Our first target is 0.6900 followed by 0.6870
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.7000 ▪ 0.6980 ▪ 0.6950 |
▪ 0.6900 ▪ 0.6870 ▪ 0.6834 |
We are bearish as long as the pair is trading below the level of 0.6980 |
- GBPJPY
The chart above shows that the pair is trading below a strong resistance level that is 134. Therefore, we are bearish as long as the pair is trading below it. Our first target is 133 followed by 132.50
| Resistance levels: | Support levels: | Recommended: |
| ▪ 135.20 ▪ 134.50 ▪ 134.00 |
▪ 133.00 ▪ 132.50 ▪ 132.00 |
We are bearish as long as the pair is trading below the level of 134.00 |
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