12 May 2020

U.S. Inflation: Tuesday, 12:30. The figures for April will likely show inflation remains at low levels. The headline reading is expected at -0.7%, while the core monthly estimate stands at -0.2%.

USD
U.S. Inflation

  • EURUSD

The chart above shows that the pair is trading below a strong resistance level that is 1.0875. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.0800.

Resistance levels: Support levels: Recommended:
▪ 1.0950
▪ 1.0900
▪ 1.0875
▪ 1.0800
▪ 1.0730
▪ 1.0700
We are bearish as long as the pair is trading below the level of 1.0875.
  • GBPUSD

As could be seen on the chart above that the pair is about breaching a strong support level that is 1.2260. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.2180.

Resistance levels: Support levels: Recommended:
▪ 1.2450
▪ 1.2430
▪ 1.2400
▪ 1.2261
▪ 1.2180
▪ 1.2120
Waiting for the pair to confirm its next movement.
  • GOLD

As could be seen on the chart above that the pair is trading above a strong support level that is 1690. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1720 followed by 1740.

Resistance levels: Support levels: Recommended:
▪ 1740
▪ 1420
▪ 1710
▪ 1690
▪ 1680
▪ 1670
We are bullish as long as the pair is trading above the level of 1690.
  • AUDUSD

As could be seen on the chart above that the pair is trading below a strong resistance level that is 0.6600. Therefore, we are bearish as long as the pair is trading below it. Our first target is 0.6375 followed by 0.6320.

Resistance levels: Support levels: Recommended:
▪ 0.6700
▪ 0.6650
▪ 0.6600
▪ 0.6375
▪ 0.6320
▪ 0.6300
We are bearish as long as the pair is trading below the level of 0.66.
  • GBPJPY

As could be seen on the chart above that the pair is trading below a strong resistance level that is 133.30. Therefore, we are bearish as long as the pair is trading below it. Our first target is 129.50

Resistance levels: Support levels: Recommended:
▪ 133.00
▪ 132.30
▪ 132.00
▪ 129.00
▪ 128.50
▪ 128.00
We are bearish as long as the pair is traded below the level of 133.30

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