25 February 2020

German Ifo Business Climate: Monday, 9:00. The survey of 7,000 businesses showed a drop in sentiment among businesses in January: 95.9 points against 96.3 beforehand. The indicator is forecast to fall to 95.0 in February.

EUR
German Ifo Business Climate

  • EURUSD

As could be seen on the chart above that the pair is traded below a strong resistance level that is 1.0900. Therefore, we are bearish as long as the pair is traded below it. Our first target is 1.0810.

Resistance levels: Support levels: Recommended:
▪ 1.1150
▪ 1.1100
▪ 1.0850
▪ 1.0800
▪ 1.0750
▪ 1.0720
We are bearish as long as the pair is traded below the level of 1.0900
  • GBPUSD

As could be seen on the chart above that the pair is traded above a strong support level that is 1.2800. Therefore, we are bullish as long as the pair is traded above it. Our first target is 1.3000.

Resistance levels: Support levels: Recommended:
▪ 1.3400
▪ 1.3350
▪ 1.3000
▪ 1.2800
▪ 1.2750
▪ 1.2700
We are bullish as long as the pair is traded above the level of 1.2800.
  • GOLD

As could be seen on the chart above that the pair is traded below a strong resistance level that is 1690. Therefore, we are bearish as long as the pair is traded below it. Our first target is 1640.

Resistance levels: Support levels: Recommended:
▪ 1690
▪ 1680
▪ 1640
▪ 1635
▪ 1630
We are bearish as long as the pair is traded below the level of 1690
  • AUDUSD

As could be seen on the chart above shows that the pair is traded below a strong resistance level that is 0.6685. Therefore, we are bearish as long as the pair is traded below it. Our first target is 0.6400. On the other hand, if the level of 0.6685 is broken, the pair might continue going upwards that is might reach the level of 0.6750

Resistance levels: Support levels: Recommended:
▪ 0.7123
▪ 0.6988
▪ 0.6740
▪ 0.6400
▪ 0.6350
▪ 0.6300
We are bearish as long as the pair is traded below 0.6660.
  • GBPJPY

The chart above shows that the pair is traded below a strong resistance level that is 144.60. Therefore, we are bearish as long as the pair is traded below it. Our first target is 142.30 followed by 141.50. On the other hand, if the level of 144.60 is broken to the upside by at least a daily close, then the way would be open for the pair to reach 145

Resistance levels: Support levels: Recommended:
▪ 146.50
▪ 146.00
▪ 144.20
▪ 141
▪ 140.50
▪ 140.00
We are bearish as long as the pair is traded below 144.66

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