19 July 2019

US consumer sentiment: Friday, 14:00. The University of Michigan’s consumer sentiment gauge has been hovering around high levels in recent months, standing at 98.2 in June. The preliminary figure for July will likely be similar.

 

 

USD
US consumer sentime nt

 

  • EURUSD

Update: We remain the same. As could be seen on the chart above that the pair is traded above a strong support area located between 1.1118 – 1.12. We will be waiting for some bullish evidence to show up then we can go long targeting the level 1.13.

 

Resistance levels: Support levels: Recommended:
▪ 1.1500
▪ 1.1450
▪ —
▪ –
▪ –
▪ 1.1118
We are bullish as long as the pair is traded above the level of 1.1118.
  • GBPUSD

Update: The pair went back again to be traded above the support level mentioned before. No evidence of a clear movement yet.. The pair went through a strong support level that is 1.24 but the breakout is not confirmed yet. So, we need at least a daily close below the level of 1.24 to confirm the breakout.

 

Resistance levels: Support levels: Recommended:
▪ 1.36
▪ 1.3310
▪ 1.33
▪ –
▪ 1.25
▪ 1.2450
Waiting for the pair to confirm the breakout.
  • GOLD

Update: The upside is broken so it might continue going upwards. The chart above shows that the pair is about to finish forming a symmetrical triangle. Once this is done, we can wait for the breakout of the formation then we can enter the market in the direction of the breakout.

 

Resistance levels: Support levels: Recommended:
▪ 1440
▪ 1435
▪ 1365
▪ 1260
▪ 1265
Still waiting for the pair to break the pattern.
  • AUDUSD

Update: We remain the same. The pair is traded in a very tight range. But it tends to be traded near to the support level of 0.6800. This means that we need to find some bullish evidence above this area so we can go long targeting the level of 0.7160 during the week.

 

Resistance levels: Support levels: Recommended:
▪ 0.7550
▪ 0.7600
▪ 0.7000
▪ 0.6778
▪ 0.68
▪ –
Waiting for the pair to confirm its coming move.
  • GBPJPY

Update: We remain the same. The chart above shows that the pair is traded above a strong support level that is 133.70 which is where we can look for some bullish evidence for an expected movement to the upside that is might reach the level of 135.

 

Resistance levels: Support levels: Recommended:
▪ 156
▪ 155
▪ 141
▪ 134
▪ 133
▪ 132
Waiting for some bullish evidence to show up.

 

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