01 April 2020

US ISM Manufacturing PMI: Wednesday, 14:00. The last two readings have been just above the 50-level, which separates expansion from contraction. However, the index is expected to slow to 46.0 in the upcoming reading.

USD
US ISM Manufacturing PMI

  • EURUSD

As could be seen on the chart above that the pair is traded below a strong resistance level that is 1.1045. Therefore, we are bearish as long as the pair is traded below it. Our first target is 1.0934 followed by 1.0880.

Resistance levels: Support levels: Recommended:
▪ 1.1100
▪ 1.1080
▪ 1.1050
▪ 1.0934
▪ 1.0880
▪ 1.0820
We are bearish as long as the pair is traded below the level of 1.1.1045
  • GBPUSD

The chart above shows that the pair is traded below a strong resistance level that is 1.2475. Therefore, we are bearish as long as the pair is traded below it. Our first target is 1.2329.

Resistance levels: Support levels: Recommended:
▪ 1.2500
▪ 1.2475
▪ 1.2470
▪ 1.2330
▪ 1.2300
▪ 1.2280
We are bearish as long as the pair is traded below the level of 1.2475
  • GOLD

The chart above shows that the pair is trading above a strong support level that is 1566. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1600.

Resistance levels: Support levels: Recommended:
▪ 1650
▪ 1630
▪ 1600
▪ 1566
▪ 1550
▪ 1545
We are bullish as long as the pair is trading above the level of 1566.
  • AUDUSD

As could be seen on the chart above that the pair is trading below a strong resistance level that is 0.6200. Therefore, we are bearish as long as the pair is traded below it. Our first target is 0.6050

Resistance levels: Support levels: Recommended:
▪ 0.6200
▪ 0.6150
▪ 0.6130
▪ 0.6050
▪ 0.6030
▪ 0.6000
We are bearish as long as the pair is traded below the level of 0.6200
  • GBPJPY

The chart above shows that the pair is trading above a strong support level that is 132.40. Therefore, we are bullish as long as the pair is traded above it. Our first target is 134.20.

Resistance levels: Support levels: Recommended:
▪ 135.00
▪ 134.20
▪ 134.00
▪ 126.60
▪ 126.00
▪ 125.50
We are bullish as long as the pair is traded above the level of  132.40

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