26 February 2020

US CB Consumer Confidence: Tuesday, 1:00. The Consumer Board survey of 5 thousand households is showing strong consumer confidence in the U.S. economy. The December reading of 131.6 easily beat the forecast of 128. 2 points. The indicator is expected to improve to 132.6 in January.

German Final GDP: Tuesday, 7:00. The final release for GDP is projected to confirm that the German economy was stagnant in Q4, as the initial GDP reading came in at 0.0%. The final figures do not usually deviate from the initial readings.

US Durable Goods Orders: Thursday, 13:30. Durables Goods Orders has been showing strong swings of late. In December, the indicator climbed 2.4%, double the estimate of 1.2%. Analysts are braced for a decline of 1.4% in January.

US Preliminary GDP: Thursday, 13:30. Preliminary (second estimate) GDP is expected to show a gain of 2.2% in the fourth quarter. This was slightly higher than the first estimate, which indicated that the U.S. economy grew by 2.1%.

USD
US CB Consumer Confidence
German Final GDP
US Durable Goods Orders

US Preliminary GDP

  • EURUSD

Update: We remain the same. 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
▪ 1.0900
▪ 1.0800
▪ 1.0750
▪ 1.0720
We are bearish as long as the pair is traded below the level of 1.0900
  • GBPUSD

Update: No changes. As could be seen on the chart above that the pair is traded above a strong support level that is 1.2800. 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

Update: First target is hit. The way is open for the pair to reach 1625. 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

Update: We remain the same. 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

Update: On its way to its first target. 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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