03 September 2020

US ISM Manufacturing PMI: Tuesday, 14:00. The PMI has been in expansion territory for the past two months, with readings above the 50-level. The index rose to 54.2 in July, and the estimate for August stands at 54.5.

US ISM Non-Manufacturing PMI: Thursday, 14:00. The index accelerated for a fourth straight month in July, climbing from 57.1 to 58.1. The forecast for August is 57.5.

USD

US ISM Manufacturing PMI

US ISM Non-Manufacturing PMI

  • EURUSD

UPDATE: Target was hit. As could be seen on the chart above that the pair is trading below a strong resistance level that is 1.2020. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.1800 followed by 1.1680.

Resistance levels: Support levels: Recommended:
▪ 1.2020
▪ 1.1980
▪ 1.1950
▪ 1.1800
▪ 1.1750
▪ 1.1700
We are bearish as long as the pair is trading below the level of 1.2020.
  • GBPUSD

UPDATE: Target was hit. As could be seen on the chart above that the pair is trading below a strong resistance level that is 1.3500. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.3200.

Resistance levels: Support levels: Recommended:
▪ 1.3600
▪ 1.3550
▪ 1.3500
▪ 1.3250
▪ 1.3200
▪ 1.3150
We are bullish as long as the pair is trading above the level of 1.3500.
  • GOLD

UPDATE: Targets were hit. As could be seen on the chart above that the pair is trading below a strong resistance level that is 1985. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1950 followed by 1930.

Resistance levels: Support levels: Recommended:
▪ 1985
▪ 1973
▪ 1960
▪ 1940
▪ 1935
▪ 1930
We are bearish as long as the pair is trading below the level of 1985.
  • AUDUSD

UPDATE: first Target was hit. The chart above shows that the pair is trading below a strong resistance level that is 0.7400. Therefore, we are bearish as long as the pair is trading below it. Our first target is 0.7250 followed by 0.7215.

Resistance levels: Support levels: Recommended:
▪ 0.7400
▪ 0.7380
▪ 0.7360
▪ 0.7250
▪ 0.7215
▪ 0.7200
We are bearish as long as the pair is trading below the level of 0.7400.
  • GBPJPY

UPDATE: Target was hit. As could be seen on the chart above that the pair is trading below a strong resistance level that is 142.90. Therefore, we are bearish as long as the pair is trading below it. Our first target is 141.00 followed by 140.60. On the other hand, if the level of 142.90 is broken, the pair might continue going upwards to reach the level of 143.80.

Resistance levels: Support levels: Recommended:
▪ 143.00
▪ 142.90
▪ 142.50
▪ 141.00
▪ 140.60
▪ 140.00
We are bearish as long as the pair is trading below the level of 142.90.

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