ECB Meeting Minutes: Thursday, 11:30. The European Central Bank went further and faster than expected in its March meeting, pushing back on raising rates to 2020 at least and announcing new funding for banks. The meeting minutes will reveal how bad the situation is in the eyes of the Frankfurt-based institution.
EUR
ECB Meeting Minutes
- EURUSD
Update: We remain the same. As could be seen on the daily chart that the pair is traded above a strong support level that is 1.1175. Therefore, we will be waiting for some bullish evidence to show up then we can go long targeting the level of 1.1250 – 1.1300 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.21 ▪ 1.1850 ▪ 1.18 |
▪ – ▪ 1.1217 ▪ 1.1150 |
We are bullish as long as the pair is traded above the level of 1.1175. |
- GBPUSD
Update: No changes, still waiting for the pair to reach the resistance area. The chart above shows that the pair is heading towards the resistance level of 1.32 – 1.33 which is where we can look for some bearish evidence to go short to target the level of 1.29.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.36 ▪ 1.3310 ▪ 1.33 |
▪ 1.29 ▪ 1.27 ▪ 1.26 |
We are bearish as long as the pair is traded below the level of 1.33. |
- GOLD
Update: Still traded above the support level. The chart above shows that the pair is traded above a strong support level that is 1282 so we will be looking for some bullish evidence to show up then we can go long targeting the level of 1300 during the week. On the other hand, breaching the level of 1282 can open the door for further downward movement during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1350 ▪ 1365 |
▪ 1298 ▪ 1180 ▪ 1170 |
Waiting for the pair to confirm its next movement. |
- AUDUSD
Update: We remain the same. As we can see on the chart above that the pair is traded above a strong support level that is 0.70. So we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 0.74 during the week.
| 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: We remain the same. The chart above shows that the pair is still traded above a strong support level that is 143.70. Therefore, we can go long targeting the level of 144 during the week. This is conditioned by the continuation of trading above the mentioned above level.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 156 ▪ 155 ▪ 149 |
▪ 140 ▪ 139 ▪ 138 |
Nothing to be done for now. |
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