19 June 2017

FOMC’s Dudley talks: Monday, 12:00. New York Fed President Bill Dudley is No. 3 at the Federal Reserve and usually a dove. In his speech in Plattsburgh, Dudley could provide more insight about the next moves of the Fed. Markets care mostly about interest rates and if Dudley surprises with hawkishness, markets will react.

  • EURUSD

As could be seen on the chart above that the pair is traded below a strong resistance level around 1.1300. It also matches a Fibonacci level of 0.386 (From 14.10.2014 to 03.01.2017). So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.1200 followed by 1.1100 during the week. On the other hand, if the level of 1.1300 is broken (by at least a daily close) then the way would be open for the pair to reach 1.1400.

Resistance levels: Support levels: Recommended:
▪ 1.1275
▪-1.1300
▪ 1.1350
▪ 1.1200
▪-1.1150
▪ 1.1100
We remain bearish as long as the pair is traded below the level of 1.1272.
  • GBPUSD

The pair may continue going up to reach the level of 1.2900 then a pullback is expected. Therefore, there is nowhere to enter the market at the time, we will be waiting for the pair to reach the level of 1.2900 then we can go short.

Resistance levels: Support levels: Recommended:
▪ 1.3000
▪-1.3100
▪ 1.2900
▪ 1.2750
▪ 1.2700
▪ —
We remain bearish as long as the pair is traded below the level of 1.3000
  • GOLD


 

As could be seen on the chart that the pair is traded above a strong support level that could be found around the level of 1250. So, we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1300 during the week. On the other hand, breaching the level of 1250 will open the door for further downward  movement during the week.

Resistance levels: Support levels: Recommended:
▪ 1350
▪ 1300
▪ 1290
▪ 1250
▪ 1220
▪ 1200
We remain bullish as long as the pair is traded above the level of 1250
  • AUDUSD

As could be seen on the chart above that the pair is traded right above a strong support level that could be found around 0.7550 so we believe that as long as the pair is traded above it, the way would be open for the pair to reach the level of 0.7700 during the week.

Resistance levels: Support levels: Recommended:

▪ 0.7600
▪-0.7700
▪ 0.7500
▪ 0.7550
▪ 0.7250
We remain bullish as long as the pair is traded above the level of 0.7500.
  • GBPJPY

As could be seen on the chart that the pair is traded right above a strong support level which is the uptrend line in red. So, we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 144 during the week.

Resistance levels: Support levels: Recommended:
▪ 144
▪ 145
▪ 146
▪ 142
▪ 141
▪ 140
We remain long as long as the pair is traded above the uptrend line.