US Durable Goods Orders: Thursday, 12:30. Orders for durable goods dropped by 0.8% in May, while core sales rose by 0.3%. This is according to the upwards revised data. We will now get figures for June, which feed into the GDP assessment. Core orders reflect investment, which is eyed by the Fed for future growth. Headline orders are predicted to jump by 3.2% while core orders carry expectations for a more modest advance of 0.4%.
USD
US Durable Good Orders
- EURUSD
Update: The pair is about to hit its first taget around 1.1800. As could be seen on the chart above that the pair is traded right above a strong support level that could be found around the level of 1.1540 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1.1800 followed by 1.1900. On the other hand, breaching the level of 1.1540 would open the door for further downward movements during the week that the pair may reach the level of 1.1450.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.1900 ▪ 1.1800 ▪ |
▪ 1.1540 ▪-1.1250 ▪ 1.1200 |
We remain bullish as long as the pair is traded above the level of 1.1540. |
- GBPUSD
Update: Will the [air break through the level of 1.3125? Today’s close is very important. As could be seen on the chart above that the pair is traded right below a strong resistance level that could be found around 1.3125 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.3000 followed by 1.2900 during the week. On the other hand, breaching the level of 1.3125 will open the door for further upward movement during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.3125 ▪ 1.3200 ▪ 1.3300 |
▪ 1.2900 ▪ 1.2800 ▪ — |
We remain bearish as long as the pair is traded below the level of 1.3125 |
- GOLD
Update: First target was hit. Waiting for the second target. Last week, the pair managed to break through a strong resistance level that could be found around 1240 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1265 followed by 1280.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1270 ▪ 1265 |
▪ 1220 ▪ 1210 ▪ 1200 |
We remain bullish as long as the pair is traded above the level of 1240 |
- AUDUSD
Update: Today’s close is very important as if the pair manages to break through the level of 0.8000 then this would be very bullish for the pair. As could be seen on the chart above that the pair is about to reach a strong resistance level that could be found around 0.8000. So, we will be waiting for the pair to reach that level then we will have to watch how the pair will react to the resistance level of 0.8000.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.8000 ▪ |
▪ 0.7700 ▪ 0.7600 ▪ 0.7500 |
Waiting for the pair to reach the level of 0.8000. |
- GBPJPY
Update: Yesterday’s trading session was a little bullish but we remain the same. As could be seen on the chart above that the pair is about to reach a strong support level which is the up trendline shown in red on the chart. So, we will be waiting for the pair to reach the up trendline then a pullback is expected if the pair shows some positive factors.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 148 ▪ 147.95 ▪ |
▪ 143 ▪ 142 ▪ 140 |
Waiting for the pair to reach the up trendline. |
