29 October 2019

US CB Consumer Confidence: Tuesday, 14:00. The Conference Board’s gauge of economic sentiment has dropped off the peak levels but remains elevated. Indeed, consumers disappointed retailers in September. The figure for October is set to rise from 125.1 to 128.2 points.

USD
US CB Consumer Confidence

  • EURUSD

The pair has been traded below the downtrend line for a long time which confirms the strength of the downtrend. Therefore, we are bearish as long as the pair is traded below the downtrend line. First target: 1.1000.

Resistance levels: Support levels: Recommended:
▪ 1.1200
▪ 1.1180
▪ 1.1150
▪ –
▪ –
▪ 1.1060
We are bearish as long as the pair is traded below the downtrend line.
  • GBPUSD

The chart above shows that the pair is traded above a strong support level that is 1.2735. Therefore, we are bullish as long as the pair is traded above it. Our first target is 1.2900 followed by 1.3000. Conditioned by the continuation of trading above the level of 1.2735.

Resistance levels: Support levels: Recommended:
▪ 1.36
▪ 1.3310
▪ 1.30
▪ –
▪ –
▪ 1.2735
We are bullish as long as the pair is traded above the level of 1.2735.
  • GOLD

Last week, we had a false breakout to the upside of the downward channel shown on the chart above. Therefore, we are bearish as long as the pair is traded below the upside of the channel. Our first target is: 1475.

Resistance levels: Support levels: Recommended:
▪ 1550
▪ 1515
▪ 1478
▪ 1430
▪ 1425
We are bearish as long as the pair is traded below the upside.
  • AUDUSD

The pair is traded below a strong resistance level that is 0.6885. Therefore, we are bearish as long as the pair is traded below it. Our first target is 0.68 followed by 0.67.

Resistance levels: Support levels: Recommended:
▪ 0.7550
▪ 0.7600
▪ 0.7000
▪ 0.68
▪ 0.67
▪ –
We are bearish as long as the pair is traded below the level of 0.6885.
  • GBPJPY

The chart above shows the pair is traded above a strong support level that is 138. Therefore, we are bullish as long as the pair is traded above it. Our first target is 141.20.

Resistance levels: Support levels: Recommended:
▪ 142
▪ 141
▪ 140
▪ 132
▪ 131
▪ 130
We are bullish as long as the pair is traded above the level of 138

Disclaimer: The information contained in this publication is produced by Land-FX and not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects Land-FX current judgment and may change without notice. This message is for information purposes only and is not intended as an offer, recommendation or solicitation to buy or sell, nor is it an official confirmation of terms. No representation or warranty is made that this information is complete or accurate. Any views or opinions expressed do not necessarily represent that Land-FX. This email and the information it contains may be confidential, proprietary or legally privileged. You must not, directly or indirectly, use, disclose, distribute, copy or store this message or any part of it if you are not the intended recipient. Unless otherwise stated, any pricing information given in this email is indicative only, is subject to changes and does not constitute an offer to deal at any price quoted.