10 July 2018

UK monthly GDP (first of its kind): Tuesday, 8:30. This is the first release of UK GDP on a monthly basis. This publication is for the month of May and we will also get data for previous months. As it is the first of its kind, the attention and the reaction may be relatively strong, even though this is not a quarterly figure but only a quarterly one.

GBP
UK monthly GDP (first of its kind)

  • EURUSD

Since the pair is traded above the uptrend line for more than a year, this indicates that we might see more bullish movement on the long term during which we can witness some downwards movements. The expected scenario for this week is as follows: as long as the pair is traded above the uptrend line along with the level of 1.15 this opens the door for further upward movements during the week that it may reach the level of 1.19 followed by 1.2.

Resistance levels: Support levels: Recommended:
▪ 1.21
▪ 1.20
▪ —
▪ 1.17
▪ 1.1650
▪ 1.1600
We are bullish as long as the pair is traded above the uptrend line.
  • GBPUSD

A few weeks ago, the pair tried to breakthrough the uptrend line shown on the chart in red, but it failed to breach it. This indicates that the pair tends to be traded positively which can open the door for further upward movements during the upcoming weeks. The expected scenario: We are bullish as long as the pair is traded above the uptrend line along with the level of 1.3050. Our targets: 1.33 followed by 1.34.

Resistance levels: Support levels: Recommended:
▪ 1.36
▪ 1.35
▪ 1.34

▪ 1.3150
▪ 1.3050
We are bullish as long as the pair is traded above the level of 1.3050.
  • GOLD

As could be seen on the daily chart that the pair is about to reach a strong support level that could be found at $1235 so we will be waiting for the pair to show up some positive evidence than we can go long targeting the level of 1250 during the week. On the other hand, breaching the level of 1235 can open the door for further downward movement during the week that it may reach the level of 1220 followed by 1210.

Resistance levels: Support levels: Recommended:
▪ 1330
▪ 1320
▪ —
▪ 1235
▪ 1220
▪ 1210
We are bullish as long as the pair is traded above the level of 1235.
  • AUDUSD

As could be seen on the daily chart that the pair is traded above an uptrend line shown on the chart 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 0.7540 during the week.

Resistance levels: Support levels: Recommended:
▪ 0.7550
▪ 0.7600
▪ —
▪ 0.7370
▪ 0.7300
We are bullish as long as the pair is traded above the uptrend line.
  • GBPJPY

The pair is traded within an ascending channel that we can see on the daily chart. Th pair is traded right above the downside of the channel so this suggests more upward movements during the week conditioned by the continuation of trading above the downside of the channel. Our targets: 149 followed by 150.

Resistance levels: Support levels: Recommended:
▪ 156
▪ 155
▪ 150.50
▪ 144
▪ 144
▪ 143
We are bullish as long as the pair is traded above the downside of the channel.

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