06 February 2020

German Factory Orders: Thursday, 7:00. Factory orders have been in a slump, with four declines in the past five months. Analysts expect better news in December, with an estimate of 0.6%.

EUR
German Factory Orders

  • EURUSD

Update: Our target is about to be hit. As could be seen on the chart above that the pair is traded below a strong resistance level that is the downtrend line. Therefore, we are bearish as long as the pair is traded below it. Our first target is 1.0990.

Resistance levels: Support levels: Recommended:
▪ 1.1150
▪ 1.1100
▪ 1.1090
▪ 1.0990
▪ 1.1950
▪ 1.0900
We are bearish as long as the pair is traded below the broken  uptrend line.
  • GBPUSD

Update: The pair is about reaching the support zone. The chart above shows that the pair is about reaching a strong support area located between: 1.2960 to 1.2900. Therefore, we will be waiting for the pair to reach that area then in case the pair shows up bullish evidence, we can go long targeting the level of 1.3100.

Resistance levels: Support levels: Recommended:
▪ 1.3400
▪ 1.3350
▪ 1.3300
▪ 1.2900
▪ 1.3000
▪ 1.2850
Waiting for the pair to reach the area mentioned in the report.
  • GOLD

Update: Our target has been hit hit. As could be seen on the chart above that the pair is traded below a strong resistance level that is 1595. Therefore, we are bearish as long as the pair is traded below it. Our first target is 1555.

Resistance levels: Support levels: Recommended:
▪ 1590
▪ 1587
▪ 1570
▪ 1565
▪ 1555
We are bearish as long as the pair is traded below the level of 1595.
  • AUDUSD

Update: Our target has been hit. The chart above shows that the pair is traded above a strong support level that is 0.6688. Therefore, we are bullish as long as the pair is traded above it. Our first target is 0.6750.

Resistance levels: Support levels: Recommended:
▪ 0.7123
▪ 0.6988
▪ 0.6820
▪ 0.6750
▪ 0.6684
▪ 0.6600
We are bullish as long as the pair is traded above 0.6688.
  • GBPJPY

Update: No changes, we remain the same. The chart above shows that the pair is traded above a strong support level that is 141. Therefore, we are bullish as long as the pair is traded above it. Our first target is 142.50 followed by 144.

Resistance levels: Support levels: Recommended:
▪ 146.50
▪ 146.00
▪ 144.20
▪ 141
▪ 140.50
▪ 140.00
We are bullish as long as the pair is traded above 141

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