The FOMC Meeting Minutes from the May decision will shed some light on the Fed’s thinking.
USD
The FOMC Meeting Minutes
- EURUSD
As could be seen on the daily chart that the pair is traded below a strong resistance level that could be found at 1.2010. So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.1700 followed by 1.1600 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.21 ▪ 1.20 ▪ — |
▪ 1.17 ▪ 1.1650 ▪ 1.1600 |
We are bearish as long as the pair is traded below the level of 1.2010 |
- GBPUSD
As could be seen on the daily chart that the pair managed to break through a strong support level (the uptrend line which is a resistance level now) so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.33 during the week. This is conditioned by the continuation of trading below the broken uptrend line.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.3700 ▪ 1.3800 ▪ — |
▪ 1.3300 ▪ 1.3250 ▪ 1.3200 |
We are bearish as long as the pair is traded below the broken uptrend line. |
- GOLD
As could be seen on the chart above that the pair managed to breakthrough a strong support level that could be found at 1300. So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1275 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1330 ▪ 1320 ▪ — |
▪ 1280 ▪ 1275 ▪ 1270 |
We are bearish as long as the pair is traded below the level of 1300. |
- AUDUSD
As could be seen on the daily chart that the pair is traded below the level of 0.7550. So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 0.7370 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.7550 ▪ 0.7600 ▪ — |
▪ 0.7370 ▪ 0.7300 ▪ |
Waiting for the pair to reach the up trendline. |
- GBPJPY
As could be seen on the daily chart that the pair is traded above a strong support level that is the uptrend line. In case is shows up some bullish evidence above it, we can go long targeting the level of 150.50 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 156 ▪ 155 ▪ 150.50 |
▪ 147 ▪ 146 |
We are bullish as long as the pair is traded above uptrend line. |
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