14 May 2020

U.S. Unemployment Claims: Thursday, 12:30.  Jobless claims are running at over 30 million, as the U.S. labor market is in disarray. The indicator has been slowly falling, but last week’s reading of 3.1 million was brutal.

Australian Jobs Report: Thursday, 1:30. Analysts are bracing for disastrous job numbers for April, as the lockdown has left millions of employees unable to work. The economy is expected to shed a staggering 550 thousand jobs, while the unemployment rate, which came in at 5.2% in March, is expected to soar to 8.3 percent.

BoC Financial System Review: Thursday, 14:30. The Bank of Canada publishes its overview of the financial system twice a year. Apart from data about the banks’ situation, the publication also includes economic data. BoC Governor Stephen Poloz will host a follow-up press conference.

USD
U.S. Unemployment Claims:

AUD
Australian Jobs Report

CAD
BoC Financial System Review

  • EURUSD

Update: Target was hit. The chart above shows that the pair is trading below a strong resistance level that is 1.0875. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.0800.

Resistance levels: Support levels: Recommended:
▪ 1.0950
▪ 1.0900
▪ 1.0875
▪ 1.0800
▪ 1.0730
▪ 1.0700
We are bearish as long as the pair is trading below the level of 1.0875.
  • GBPUSD

Update: 14 May 2020. As could be seen on the chart above that the pair is about breaching a strong support level that is 1.2260. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.2180.

Resistance levels: Support levels: Recommended:
▪ 1.2450
▪ 1.2430
▪ 1.2400
▪ 1.2261
▪ 1.2180
▪ 1.2120
Waiting for the pair to confirm its next movement.
  • GOLD

Update: 14 May 2020. As could be seen on the chart above that the pair is trading above a strong support level that is 1690. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1720 followed by 1740.

Resistance levels: Support levels: Recommended:
▪ 1740
▪ 1420
▪ 1710
▪ 1690
▪ 1680
▪ 1670
We are bullish as long as the pair is trading above the level of 1690.
  • AUDUSD

Update: Target was hit. As could be seen on the chart above that the pair is trading below a strong resistance level that is 0.6600. Therefore, we are bearish as long as the pair is trading below it. Our first target is 0.6375 followed by 0.6320.

Resistance levels: Support levels: Recommended:
▪ 0.6700
▪ 0.6650
▪ 0.6600
▪ 0.6375
▪ 0.6320
▪ 0.6300
We are bearish as long as the pair is trading below the level of 0.66.
  • GBPJPY

Update: We remain the same. As could be seen on the chart above that the pair is trading below a strong resistance level that is 133.30. Therefore, we are bearish as long as the pair is trading below it. Our first target is 129.50

Resistance levels: Support levels: Recommended:
▪ 133.00
▪ 132.30
▪ 132.00
▪ 129.00
▪ 128.50
▪ 128.00
We are bearish as long as the pair is traded below the level of 133.30

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