Chinese Caixin Manufacturing PMI: Monday, 1:45. China is the world’s No. 2 economy and any changes in its growth have an impact felt all over the world. The independent measure by Caixin provides a forward-looking gauge at the Chinese economy. In the past three months, the indicator fell short of expectations, with a slide to 49.6 in May. Any figure under 50 represents contraction. A similar score is expected now: 49.9.
US ISM Manufacturing PMI: Monday, 14:00. The US manufacturing sector is relatively small but remains important. Back in May, ISM’s purchasing managers’ index showed steady growth with a score of 54.9 points. This is the first hint towards Friday’s Non-Farm Payrolls. Expectations stand at 55 points.
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US ISM Manufacturing
- EURUSD
The pair is traded right above a strong key level (resistance) 1.1360 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1.1400 followed by 1.1500 during the week. On the other hand, breaching the level of 1.1360 will open the door for further downward movement during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.1550 ▪-1.1500 ▪ 1.1450 |
▪ 1.1360 ▪-1.1300 ▪ 1.1250 |
We remain bullish as long as the pair is traded above the level of 1.1360. |
- GBPUSD
As could be seen on the chart above that the pair is traded right below a strong resistance level that could be found around 1.3040 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.3000 followed by 1.2900 during the week. On the other hand, breaching the level of 1.3040 will open the door for further upward movement during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.3040 ▪-1.3100 |
▪ 1.2900 ▪ 1.2800 ▪ — |
We remain bearish as long as the pair is traded below the level of 1.3000 |
- GOLD
Regardless the last downward movement that could be clearly seen on the chart above, the pair is facing a strong support level which is the uptrend line shown on the chart so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1250 followed by 1265 during the week. On the other hand, breaching the level of 1225 along with the uptrend line shown in red on the chart will open the door for further downward movement during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1270 ▪ 1265 ▪ 1250 |
▪ 1225 ▪ 1220 ▪ 1210 |
We remain bullish as long as the pair is traded above the level of 1240 |
- AUDUSD
As could be seen on the chart above that the pair is traded right below a strong resistance level that could be found around the level of 0.7725 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 0.7650 followed by 0.7600 during the week. On the other hand, breaching the level of 0.7725 can open the door for further upward movement during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.7725 ▪-0.7800 ▪ 0.7850 |
▪ 0.7635 ▪ 0.7600 ▪ 0.7550 |
We remain bearish as long as the pair is traded below the level of 0.7725. |
- GBPJPY
The pair is in a strong uptrend as could be seen on the chart above. So, it may continue going up to reach the level of 148 then a pullback is expected if the pair shows some negative factors right below the level of 148.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 148 ▪ 147.95 ▪ |
▪ 145 ▪ 144 ▪ 143 |
We remain bearish as long as the pair is traded below the level of 148. |
