US GDP (final): Thursday, 12:30. The second release of GDP was somewhat encouraging: annualized growth was revised up to 1.2% from the very poor 0.7% reported in the first release. A confirmation of the 1.2% growth rate is expected.
USD
Final GDP
- EURUSD
Update: the level of 1.1360 is broken so the pair may reach the level of 1.1450. As could be seen on the chart above that the pair is traded below a strong resistance level around 1.1360. So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.1300 followed by 1.1250 during the week. On the other hand, if the level of 1.1360 is broken (by at least a daily close) then the way would be open for the pair to reach 1.1400.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.1360 ▪-1.1400 ▪ 1.1450 |
▪ 1.1200 ▪-1.1150 ▪ 1.1100 |
We remain bearish as long as the pair is traded below the level of 1.1360. |
- GBPUSD
Update: the pair is on its way to its final target that could be found around 1.3000. As could be seen on the chart above that the pair is traded above the level of 1.2600 which is a strong support level so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1.3000 during the week. On the other hand, breaching the level of 1.2600 would open the door for the pair to reach the level of 1.2400.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.3000 ▪-1.3100 ▪ 1.2900 |
▪ 1.2750 ▪ 1.2700 ▪ — |
We remain bearish as long as the pair is traded below the level of 1.3000 |
- GOLD
Update: the pair is still traded above a strong support level which is the downside of the ascending channel shown on the chart. As could be seen on the chart above that the pair is traded above a strong support level that could be found around 1240 so we remain bullish as long as the pair is traded above it. On the other hand, breaching the level of 1240 would open the door for the pair to reach the level of 1220 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1350 ▪ 1300 ▪ 1290 |
▪ 1240 ▪ 1220 ▪ 1200 |
We remain bullish as long as the pair is traded above the level of 1240 |
- AUDUSD
Update: We remain bullish and our final target is 0.7700. As could be seen on the chart above that the pair is traded right above a strong support level that could be found around 0.7550 so we believe that as long as the pair is traded above it, the way would be open for the pair to reach the level of 0.7700 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ ▪ 0.7635 ▪-0.7700 |
▪ 0.7500 ▪ 0.7550 ▪ 0.7250 |
We remain bullish as long as the pair is traded above the level of 0.7550 |
- GBPJPY
Update: On its way to the level of 148. As could be seen on the chart that the pair is traded right above a strong support level which is the uptrend line in red. So, we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 144 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 144 ▪ 145 ▪ 146 |
▪ 142 ▪ 141 ▪ 140 |
We remain long as long as the pair is traded above the uptrend line. |
