19 September 2019

Australian jobs report: Thursday, 1:30. The land down under has enjoyed an impressive increase in positions back in July — 41,100. A more modest increase of 15,200 is on the cards for August. The unemployment rate is expected to remain unchanged at 5.2%.

Japanese rate decision: Thursday, early in the morning. The Bank of Japan has only several hours to digest the Fed’s decision before it makes its own. While negative interest rates have been hurting commercial banks, there is growing pressure on the Tokyo-based institution to decrease its interest rate from -0.10% to -0.20%. The BOJ is competing with the Fed and with the ECB which are both easing their monetary policy. Governor Haruhiko Kuroda and his colleagues have very few tools in their shed.

UK rate decision: Thursday, 11:00. The Bank of England has its hands basically tied due to Brexit. While wage growth is robust and it would like to raise rates to combat potential inflation down the road, the BOE may have to slash rates if the UK leaves the EU without a deal and the economy tanks. In this September decision, the “Old Lady” is forecast to leave its interest rate unchanged at 0.75%. A unanimous vote is on the cards.

 

AUD
Australian jobs report

JPY
Japanese rate decision

GBP
UK rate decision

  • EURUSD

Update: We remain the same. The chart above shows that the pair is traded below a strong resistance level that is the downtrend line. Therefore, we will be waiting for some bearish evidence below this level then we can go short targeting the level of 1.0950.

 

Resistance levels: Support levels: Recommended:
▪ 1.1242
▪ 1.1180
▪ 1.1065
▪ –
▪ –
▪ 1.0950
We are bearish as long as the pair is traded below the level of 1.1065.
  • GBPUSD

Update: We remain the same. The chart above shows that the pair is traded above a strong support level that is 1.2350. Therefore, we are bullish as long as the pair is traded above it. Our first target is 1.2250. Conditioned by the continuation of trading above the level of 1.2350.

 

Resistance levels: Support levels: Recommended:
▪ 1.36
▪ 1.3310
▪ 1.2550
▪ –
▪ –
▪ 1.20
We are bullish as long as the pair is traded above the level of 1.2380.
  • GOLD

Update: No changes, we remain the same. As could be seen on the chart above that the pair is traded above a strong support level that is the uptrend line. So, we are bullish as long as the pair is traded above it. Our first target is 1510.

 

Resistance levels: Support levels: Recommended:
▪ 1550
▪ 1540
▪ 1490
▪ 1260
▪ 1265
We are bullish as long as the pair is traded above the uptrend line.
  • AUDUSD

Update: No bullish evidence has shown up so the scenario has been canceled. As could be seen on the chart above that the pair is traded above a strong support level that is 0.6820. We can go long in case the pair shows up some bullish evidence above this level. Our first target is: 0.6900.

 

Resistance levels: Support levels: Recommended:
▪ 0.7550
▪ 0.7600
▪ 0.7000
▪ 0.6680
▪ 0.6650
▪ –
We are bullish.
  • GBPJPY

Update: We remain the same. The chart above shows that the pair is traded above a strong support level that is 131. Therefore, we are bullish as long as the pair is traded above it. Our first target is 135.

 

Resistance levels: Support levels: Recommended:
▪ 135
▪ 136
▪ 136.50
▪ 132
▪ 131
▪ 130
We are bullish.

 

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