US retail sales: Friday, 13:30. While markets will be digesting the British political developments, the all-important consumption report from the US is set to move the dollar. Consumption consists of 70% of the US economy, and the indication of how Black Friday was received will be of interest. Sales increased by 0.3% in October while core sales advanced by 0.2%. The Control Group is also of importance.
USD
US retail sales
- EURUSD
Update: We remain the same. As could be seen on the chart above that the pair is traded below a strong resistance level that is the downtrend line shown on the chart in red. Therefore, we are bearish as long as the pair is traded below it. Our first target is: 1.0982
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.1500 ▪ 1.1400 ▪ 1.1300 |
▪ 1.0993 ▪ 1.0982 ▪ 1.0850 |
We are bearish as long as the pair is traded below the downtrend line. |
- GBPUSD
Update: The pair started going downwards. As could be seen on the chart above that the pair is traded below a strong resistance level that is 1.3300. Therefore, we are bearish as long as the pair is traded below it. Our first target is 1.3100
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.3400 ▪ 1.3350 ▪ 1.3300 |
▪ 1.3100 ▪ 1.2900 ▪ 1.2850 |
We are bearish as long as the pair is traded below 1.3300. |
- GOLD
Update: The pair has reached the expected levels. Waiting for bearish evidence. The chart above shows that the pair is traded within a bearish channel. We will be waiting for the pair to reach the resistance level of 1480 – 1483 which meets the upside of the channel. If the pair follows this scenario, we can go short targeting the level of 1447 (in case the pair shows up some bearish evidence).
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1510 ▪ 1483 |
▪ 1470 ▪ 1465 ▪ 1455 |
We are bearish as long as the pair is traded below the upside of the bearish channel. |
- AUDUSD
Update: The pair is about reaching the expected level. As could be seen on the chart above that the pair is traded below a strong resistance level that is the downtrend line. In case the pair shows up bearish evidence below it, we can go short targeting the level of 0.6730 followed by 0.6695. On the other hand, breaking the downtrend line to the upside, can open the door for further upward movements during the week that it might reach the level of 0.7000.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.7123 ▪ 0.7050 ▪ 0.7000 |
▪ 0.6730 ▪ 0.6695 ▪ 0.6672 |
We are bearish as long as the pair is traded below the downtrend line. |
- GBPJPY
Update: Waiting for bearish evidence to show up. The chart above shows that the pair is traded below a strong resistance level that is the downtrend line shown on the chart in red. Therefore, we are bearish as long as the pair is traded below it. Our first target is 138.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 144.50 ▪ 144 ▪ 143.80 |
▪ 138.00 ▪ 137.50 ▪ 137.00 |
We are bearish as long as the pair is traded below the downtrend line. |
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