10 July 2020

US Producer Price Index: Friday, 12:30. The headline reading rebounded in May with a gain of 0.4%, after a sharp loss of 1.3% beforehand. The core reading declined by 0.1% in May, its third decline in four months. The forecast for the headline read stands at 0.4% and the core release is projected at 0.1 percent.

Canada Employment Report: Friday, 13:30. Canada’s economy rebounded from a loss of over 1.99 million jobs in April, with a gain of 289.6 thousand in May. Analysts are expecting better numbers in June, with a forecast of 550.0 thousand. The unemployment rate climbed from 13.0% to 13.7% in May, but this beat the forecast of 15.0%. The estimate for June is 12.5 percent.

USD
US Producer Price Index

CAD
Canada Employment Report

  • EURUSD

Update: Target was hit. The chart above shows that the pair is trading below a strong resistance level that is 1.1370. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.1300.

Resistance levels: Support levels: Recommended:
▪ 1.1370
▪ 1.1325
▪ 1.1300
▪ 1.1220
▪ 1.1200
▪ 1.1170
We are bearish as long as the pair is trading below 1.1370
  • 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 1.2700. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.2580.

Resistance levels: Support levels: Recommended:
▪ 1.2750
▪ 1.2720
▪ 1.2700
▪ 1.2580
▪ 1.2550
▪ 1.2530
We are bearish as long as the pair is trading below the level of 1.2700.
  • GOLD

Update: Target was hit. As could be seen on the chart above that the pair is trading below a strong resistance level that is 1818. Therefore, we are bearish as long as the pair is trading below the level of 1818. Our first target is 1795.

Resistance levels: Support levels: Recommended:
▪ 1818
▪ 1815
▪ 1813
▪ 1795
▪ 1790
▪ 1785
We are bearish as long as the pair is trading below the level of 1818.
  • AUDUSD

Update: No changes. The chart above shows that the pair is trading below a strong resistance level that is 0.7034. Therefore, we are bearish as long as the pair is trading below it. Our first target is 0.6970.

Resistance levels: Support levels: Recommended:
▪ 0.7034
▪ 0.7000
▪ 0.6980
▪ 0.6750
▪ 0.6720
▪ 0.6700
We are bearish as long as the pair is trading below the level of 0.7034.
  • GBPJPY

Update: Target was hit. The chart above shows that the pair is trading below a strong resistance level that is 136.30. Therefore, we are bearish as long as the pair is trading below it. Our first target is 135.30 followed by 134.50.

Resistance levels: Support levels: Recommended:
▪ 137.00
▪ 136.50
▪ 136.30
▪ 135.30
▪ 135.00
▪ 134.50
We are bearish as long as the pair is trading below the level of 136.30

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