30 July 2019

Japan rate decision: Tuesday, early morning. The Bank of Japan would like to add monetary stimulus and match the actions of its peers – but is has few new tools in its shed. The BOJ already enacts a negative interest rate and keeps bond yields depressed with its massive QQE program. Governor Haruhiko Kuroda and his colleagues may enhance their pledge to do whatever it takes to push inflation higher, but markets are unlikely to be impressed.

US CB Consumer Confidence: Tuesday, 14:00. The Conference Board’s monthly survey of consumers has dropped from the highs and stands at 121.5 as of June. The fresh figure for August will likely show a rise to 125.2, in line with recent upbeat jobs numbers.

 

 

USD
US CB Consumer Confidence

JPY
Japan rate decision

 

  • EURUSD

As could be seen on the chart above that the pair is traded above a strong support level that is 1.1118. Therefore, we are bullish as long as the pair is traded above it. Our first target is 1.1217.

 

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

As could be seen on the weekly timeframe that the pair is about to reach a strong support level that is 1.20 so we will be waiting for some bullish evidence to show up then we can go long targeting the level of 1.25 during the week.

 

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 1.20.
  • GOLD

The chart above shows that the pair is traded below a strong resistance level that is 1451. In case the pair shows up some bearish evidence below the mentioned above level, then we can go short targeting the level of 1400 during the week.

 

Resistance levels: Support levels: Recommended:
▪ 1460
▪ 1451
▪ 1365
▪ 1260
▪ 1265
We are bearish as long as the pair is traded below the level of 1451.
  • AUDUSD

As could be seen on the chart above that the pair is traded above a strong support level that is 0.68. We will be waiting for some bullish evidence to show up then we can go long targeting the level of 0.71.

 

Resistance levels: Support levels: Recommended:
▪ 0.7550
▪ 0.7600
▪ 0.7000
▪ 0.6778
▪ 0.68
▪ –
We are bullish as long as the pair is traded above the level of 0.68
  • GBPJPY

The chart above shows that the pair managed to breakthrough a strong support level that is 133. In case there is a daily close below it, we can go short targeting at least the level of 131 followed by 130.

 

Resistance levels: Support levels: Recommended:
▪ 156
▪ 155
▪ 141
▪ 132
▪ 131
▪ 130
Waiting for some confirmations.

 

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