US CB Consumer Confidence: Wednesday, 14:00. The Conference Board’s measure of consumer confidence rose to a high level of 130.8 points in February and another increase to 131.2 is on the cards now. The parallel University of Michigan figure for March has already surprised to the upside.
US GDP (final): Wednesday, 12:30. The third and final read of US growth for Q4 2017 is expected to show a small upgrade from 2.5% to 2.7% annualized growth. The world’s largest economy enjoyed robust growth in Q2, Q3, and also Q4, while prospects for Q1 2018 already look dimmer.
Pending Home Sales: Wednesday, 14:00. Sales pending the final transaction fell sharply in January, by 4.7%. A rebound is now on the cards. Figures from the housing sector were mixed lately.
USD
US CB Consumer Confidence
US GDP (final)
Pending Home Sales
- EURUSD
As Could be seen on the daily chart that the is traded right below a strong resistance level that is 1.2520 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.2200.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.2530 ▪ — ▪ — |
▪ 1.22 ▪ 1.21 ▪ 1.1550 |
We are bearish as long as the pair is traded below the level of 1.22. |
- GBPUSD
As could be seen on the chart above that the pair is traded right below a strong resistance level that is 1.4340 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.39 during the week. This is conditioned by the continuation of trading below the level of 1.4340
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.4340 ▪ 1.4200 ▪ — |
▪ 1.3800 ▪ 1.3700 ▪ 1.3600 |
We are bearish as long as the pair is traded below the level of 1.4340. |
- GOLD
The pair is traded below strong resistance levels that could be found at 1365 to 1350. So, we are bearish as long as the pair is traded below them. Our first target is: 1330 followed by 1320.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1350 ▪ 1365 ▪ — |
▪ 1310 ▪ 1300 ▪ 1290 |
We are bearish as long as the pair is traded below the level of 1365. |
- AUDUSD
As could be seen on the daily chart that the pair is traded within a descending channel. Having the pair traded above the downside of the channel can open the door for further upward movements during the week that it can reach the level of 0.7850.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.8000 ▪ 0.7900 ▪ — |
▪ 0.7700 ▪ 0.7600 ▪ 0.7500 |
We are bullish as long as the pair is traded above the downside of the channel. |
- GBPJPY
There is a potential that the pair is forming a head and shoulders pattern. The neck line of the pattern could be found at 150.35 so if this level is broken, we can go long targeting the level of 154 followed by 155. Other than that, we are bearish as long as the pair is traded below the level of 150.30. Our first target is 147.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 156 ▪ 155 |
▪ 147 ▪ 146 |
We are bearish as long as the pair is traded below the level of 150.30. |
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.
