Australian rate decision: Tuesday, 4:30. The Reserve Bank of Australia has not changed its interest rates for over two years and this event will be no different according to all the signs. The Australian economy is doing OK, but not accelerating. Concerns about demand from Asia weighs on sentiment. Any change in the wording regarding the exchange rate or inflation may have an impact on the Aussie dollar.
Jerome Powell speaks: Tuesday, 16:00. The Chair of the Federal Reserve will deliver a speech, his third public appearance in a week. While it is unlikely Powell will have something new to say, his words always move the markets.
USD
Jerome Powell speaks
AUD
Australian rate decision
- EURUSD
Update: Still traded below the downtrend line, so we remain the same. As could be seen on the daily chart that the pair is traded below a strong resistance level that is the downtrend line shown on the chart in blue. We believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.15 during the week. In case the pair reaches the downtrend line again, we can go short again in case it shows up some bearish evidence below the downtrend line. This is conditioned by the continuation of trading below the downtrend line.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.21 ▪ 1.1850 ▪ 1.18 |
▪ 1.15 ▪ 1.1450 ▪ 1.14 |
We are bearish as long as the pair is traded below the downtrend line. |
- GBPUSD
Update: We remain the same. As could be seen on the daily chart that the pair is traded below a strong resistance level that is 1.33 so we believe that as long as the pair is traded below it, it is highly recommended to go short. We recommend that it is better to wait for the pair to be traded around the level of 1.33 again so we can go short. Our first target is: 1.29
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.36 ▪ 1.3350 ▪ 1.33 |
▪ ▪ 1.2650 ▪ 1.2550 |
We are bearish as long as the pair is traded below the level of 1.33. |
- GOLD
Update: The pair has started going down. As we discussed before that the pair has been traded below a strong resistance level 1218 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1200 followed by 1190 during the week. This is conditioned by the continuation of trading below the level of 1218.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1330 ▪ 1320 ▪ 1220 |
▪ 1200 ▪ 1190 ▪ 1180 |
We are bearish as long as the pair is traded below the level of 1220. |
- AUDUSD
Update: The pair is still traded below the downtrend line. As could be seen on the daily chart that the pair is traded below a strong resistance level that is the down trendline shown on the chart in blue. Therefore, we are bearish as long as the pair is traded below the trendline. Our first target is 0.7000.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.7550 ▪ 0.7600 ▪ 0.7260 |
▪ 0.7000 ▪ – ▪ – |
Waiting for the pair to reach the downtrend line. |
- GBPJPY
Update: The pair is still traded below the resistance level of 149.50. The daily timeframe shows that the pair is traded below a strong resistance level that is 149.50 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 140 during the week. This is conditioned by the continuation of trading below the level of 149.50.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 156 ▪ 155 ▪ 149 |
▪ — ▪ 145 ▪ 140 |
We are bearish as long as the pair is traded below the level of 149.30. |
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