12 March 2020

British GDP: Wednesday, 9:30. This GDP release is published every month. In December, the economy rebounded with a gain of 0.3%, after a decline of 0.3% a month earlier. The reading edged above the estimate of 0.2%. Analysts are projecting a smaller gain of 0.2% in January.

British Annual Budget Release: Wednesday, 11:30. The brand new Chancellor of the Exchequer, Rishi Sunak, will present the new UK budget. This event, also known as the Spring Statement, will consist of new forecasts for the economy.  With the markets in turmoil over the coronavirus crisis, any downgrade could spook investors and hurt the pound.

Eurozone Revised GDP: Tuesday, 10:00 Economic conditions in the eurozone remains weak, with growth of just 0.2% in the past two quarters. The estimate for Q4 stands at 0.1%.

US Inflation: Wednesday, 12:30. Consumer inflation remains weak, as the paltry gain of 0.1% in January was the weakest reading since September. The downtrend is expected to continue, with a forecast of 0.0% for February.

EUR
Eurozone Revised GDP

GBP
British GDP
British Annual Budget Release

USD
US Inflation

  • EURUSD

As could be seen on the chart above that the pair is about reaching a strong support area 1.1050. Therefore, we are bullish as long as the pair is traded above it. Our first target is 1.1200.

Resistance levels: Support levels: Recommended:
▪ 1.1600
▪ 1.1566
▪ 1.1200
▪ 1.1050
▪ 1.1030
▪ 1.1010
we are bullish as long as the pair is traded above 1.1050
  • GBPUSD

The chart above shows that the pair is traded below a strong resistance level that is 1.12775. Therefore, we are bearish as long as the pair is traded below it. Our first target is 1.2400.

Resistance levels: Support levels: Recommended:
▪ 1.2850
▪ 1.2800
▪ 1.2775
▪ 1.2400
▪ 1.2350
▪ 1.2300
we are bearish as long as the pair is traded below 1.2775.
  • GOLD

As could be seen on the chart above that the pair is traded below a strong resistance level that is 1600. Therefore, we area bearish as long as the pair is traded below it. Our first target is 1550.

Resistance levels: Support levels: Recommended:
▪ 1630
▪ 1620
▪ 1600
▪ 1550
▪ 1530
▪ 1510
We are bearish as long as the pair is traded below the level of 1600.
  • AUDUSD

As could be seen on the chart above that the pair is traded below a strong resistance level that is 0.6400. Therefore, we are bearish as long as the pair is traded below it. Our first target is 0.6200.

Resistance levels: Support levels: Recommended:
▪ 0.6400
▪ 0.6350
▪ 0.6300
▪ 0.6200
▪ 0.6150
▪ 0.6100
Waiting for the pair to reach the support level.
  • GBPJPY

As could be seen on the chart above that the pair is traded below a strong resistance level that is 133.60. Therefore, we are bearish as long as the pair is traded below it. Our first target is 131.00.

Resistance levels: Support levels: Recommended:
▪ 134.00
▪ 133.60
▪ 133.00
▪ 131.00
▪ 130.50
▪ 130.00
We are bearish as long as the pair is traded below 133.60.

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