German GfK Consumer Climate: Tuesday, 7:00. Consumer confidence improved to 10.8 points in January, easily beating the estimate of 10.3 points. Another gain of 10.8 points is expected in February.
EUR
German GfK Consumer Climate
- EURUSD
The daily timeframe shows that the pair is traded above a strong support level that is 1.13 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1.15. This is conditioned by the continuation of trading above the level of 1.13.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.21 ▪ 1.1850 ▪ 1.18 |
▪ – ▪ 1.1217 ▪ 1.10 |
We are bullish as long as the pair is traded above the level of 1.1217 |
- GBPUSD
The daily timeframe shows that the pair is traded below a strong resistance level. So, we have two scenarios: The first one; if the pair shows up some bearish evidence below the resistance level of 1.33, we can go short targeting the level of 1.28 during the week. The 2nd one is; if the pair breaks through the level of 1.33 and the breakout is confirmed with a daily close, the pair can continue going up to reach the level of 1.35.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.36 ▪ 1.33 ▪ 1.32 |
▪ 1.2730 ▪ 1.27 ▪ 1.26 |
Waiting for the pair to show up some bearish evidence below the level of 1.33. |
- GOLD
The golden area where we can find a good place to enter the market could be found between 1350 to 1365. So, we will be waiting for the pair to reach this area, then in case it shows up some bearish evidence, we can go short targeting the level of 1330 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1350 ▪ 1365 |
▪ 1298 ▪ 1180 ▪ 1170 |
Waiting for the pair to reach the level of 1350. |
- AUDUSD
As could be seen on the daily timeframe that the pair is traded above a strong support level that is 0.70. So, we are bullish as long as the pair is traded above it. Our first target could be as follows: 0.73 – 0.74
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.7550 ▪ 0.7600 ▪ 0.7260 |
▪ 0.7000 ▪ – ▪ – |
We are bullish as long as the pair is traded above the level of 0.70. |
- GBPJPY
The pair successfully managed to break through a strong resistance level that is the neck line of the head and shoulders pattern shown on the chart above. Therefore, we are bullish as long as the pair is traded above the neckline. Our first target is: 149.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 156 ▪ 155 ▪ 149 |
▪ 140 ▪ 139 ▪ 138 |
We are bullish as long as the pair is traded above the broken uptrend line. |
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