ADP Non-Farm Payrolls: Wednesday, 12:15. Payrolls software provider ADP publishes its jobs report for the private sector and always influences markets. The figures released do not always correlate with the official report by the BLS, but they are still eyed. A gain of 178K was seen in July. A similar gain of 186K is projected.
US GDP (second release): Wednesday, 12:30. The US economy came back to the “new normal” levels of growth in Q2: 2.6% according to the first release. We now get the second estimate for this quarter. Q1 2017 and 2016 did not experience upbeat growth, to say the least: under 2%. A small upgrade to 2.7% is expected in the second release.
USD
ADP Non-Farm Payrolls
US GDP (second release)
- EURUSD
Update: we remain bullish – still traded above the level of 1.1900. As could be seen on the daily time frame that the pair managed to break through a strong resistance level (1.1900) and now is traded above it so it is a support level for this week (key level). We remain bullish as long as the pair is traded above it. The pair may continue going up to reach the level of 1.2000 followed by 1.2100. This is conditioned by the continuation of trading above the level of 1.1900.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.2000 ▪ 1.2100 |
▪ 1.1900 ▪-1.1850 ▪ 1.1800 |
We remain bullish as long as the pair is traded above the level of 1.1900. |
- GBPUSD
Update: the pair is still traded below the level of 1.3000. Having the pair traded below the level of 1.3000 besides the broken uptrend line is considered to be bearish for the pair. So, we remain bearish as long as the pair is traded below the level of 1.3000. Our expected targets: 1.2800 followed by 1.2700.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.3200 ▪ 1.3300 ▪ 1.3000 |
▪ 1.2800 ▪ 1.2700 |
We remain bearish as long as the pair is traded below the level of 1.3000. |
- GOLD
Update: we remain bullish. The pair managed to break through a strong resistance level (1300). This is a bullish sign that the pair may continue going up to reach the level of 1330 followed by 1350. This is conditioned by the continuation of trading above the level of 1300.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1330 ▪ 1350 |
▪ 1300 ▪ 1210 ▪ 1200 |
We remain bullish as long as the pair is traded above the level of 1300 |
- AUDUSD
Update: the pair is about to reach the level of 0.8000. The pair may continue going up to reach the level of 0.8000 then a pullback is expected. So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 0.7800 followed by 0.7700. This is conditioned by the continuation of trading below the level of 0.8000.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.8000 ▪ |
▪ 0.7700 ▪ 0.7600 ▪ 0.7500 |
We remain short as long as the pair is traded below the level of 0.8000. |
- GBPJPY
Update: the pair is on its way to reach the level of 143.42. The broken uptrend line has opened the door for further downward movement during the week. We would also like to mention that the breakout of the level of 139 will open the door for pair to reach the level of 138 followed by 137 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 148 ▪ 147.95 ▪ |
▪ 139 ▪ 138 |
Waiting for the pair to break through the level of 139. |
