Monetary Data: Wednesday, 9:00. M3 Money Supply improved to 4.1% in December and the forecast for January stands at 4.0%. estimate of 3.8%. Private Loans has been steadily moving higher, and the trend is expected to continue, with a forecast of 3.4% for January
EUR
Monetary Data
- EURUSD
Update: No changes. We remain the same. 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
Update: Waiting for some bearish evidence to show up. 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 2ndone 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
Update: If the pair goes down to reach the level of 1300, there could be a good chance to enter the market. 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
Update: No changes. We remain the same. 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
Update: On its way to its first target. 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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