25 March 2020

Inflation: Wednesday, 9:30. Consumer inflation was unexpectedly strong in January, with a gain of 1.8%, above the estimate of 1.6%. The estimate for February stands at 1.6%. Core CPI, which excludes the most volatile items in CPI, accelerated to 1.6%, above the forecast of 1.5%. The estimate for February is 1.5%.

CBI Realized Sales: Wednesday, 11:00. Sales volume managed to eke out a small gain of 1 point in February, but analysts are expecting a dismal March, with an estimate of -15 points.

GBP
Inflation
CBI Realized Sales

  • EURUSD

Update: We remain the same. The chart above shows that the pair might continue going upwards to reach the level of 1.1000. This is conditioned by the continuation of trading above the level of 1.0650.

Resistance levels: Support levels: Recommended:
▪ 1.1080
▪ 1.1050
▪ 1.1000
▪ 1.0650
▪ 1.0600
▪ 1.0550
We are bearish as long as the pair is traded below the level of 1.1.1050
  • GBPUSD

Update: no changes. As could be seen on the chart above that the pair is traded above a strong support level that is 1.1510 Therefore, we are bullish as long as the pair is traded above it. Our first target is 1.1900 followed by 1.2000

Resistance levels: Support levels: Recommended:
▪ 1.2000
▪ 1.1950
▪ 1.1900
▪ 1.1510
▪ 1.1450
▪ 1.1400
Waiting for the pair to confirm its next movement.
  • GOLD

Update: Target hit. The chart above shows that the pair is trading above a strong support level that is 1450. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1600.

Resistance levels: Support levels: Recommended:
▪ 1600
▪ 1550
▪ 1530
▪ 1450
▪ 1420
▪ 1400
We are bullish as long as the pair is trading above the level of 1450.
  • AUDUSD

Update: The pair started going downwards as expected. The chart above shows that the pair is traded below a strong resistance level that is 0.6100. Therefore, we are bearish as long as the pair is traded below it. Our first target is 0.5800.

Resistance levels: Support levels: Recommended:
▪ 0.6300
▪ 0.6250
▪ 0.6200
▪ 0.5800
▪ 0.5750
▪ 0.5700
We are bearish as long as the pair is traded below the level of 0.6100
  • GBPJPY

Update: We remain the same. The chart above shows that the pair is trading above a strong support level that is 126.60. Therefore, we are bullish as long as the pair is traded above it. Our first target is 135.

Resistance levels: Support levels: Recommended:
▪ 137
▪ 136
▪ 135
▪ 126.60
▪ 126.00
▪ 125.50
We are bullish as long as the pair is traded above the level of 126.60

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