04 December 2018
powered by Land-FX
Australian rate decision: Tuesday, 15:3:30. The Reserve Bank of Australia left the interest rates unchanged at 1.50% for over two years, and this decision will unlikely be different. Governor Phillip Lowe and his colleagues have hinted that the next move will more likely be to the upside, but an increase is not imminent. Comments about the improving labor market, the cooling housing one, and international trade will be of high interest. The central bankers will likely have the GDP data before them, so any reference to growth may serve as a hint.
AUD
Australian rate decision
- EURUSD
As could be seen on the daily chart that the pair is traded above a strong support level that is 1.1210 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1.14 during the week. This is conditioned by the continuation of trading above the support level of 1.1210
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.21 ▪ 1.1850 ▪ 1.18 |
▪ – ▪ 1.1217 ▪ 1.10 |
We are bullish as long as the pair is traded above the level of 1.1217. |
- GBPUSD
As could be seen on the daily chart that the pair is traded above a strong support level that is 1.26, in case the pair shows up some bullish evidence above this level, we can go long targeting the level of 1.30 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.36 ▪ 1.3350 ▪ 1.29 |
▪ 1.2679 ▪ 1.2650 ▪ 1.2550 |
We are bullish as long as the pair is traded above the level of 1.26. |
- GOLD
As could be seen on the chart above that the pair is traded below a strong resistance level that is 1245 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1220 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1330 ▪ 1235 ▪ – |
▪ ▪ 1180 ▪ 1170 |
We are bearish as long as the pair is traded below the level of 1245. |
- AUDUSD
The daily timeframe shows that the pair is about to reach a strong resistance level that is 0.7450 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 0.73 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.7550 ▪ 0.7600 ▪ 0.7260 |
▪ 0.7000 ▪ – ▪ – |
We are bearish as long as the pair is traded below the level of 0.7450. |
- GBPJPY
The daily timeframe shows that the pair is about to reach a strong support level that is 143. In case the pair shows up some bullish evidence above this level, we can go long. On the other hand, if this level is broken, we can go short targeting the level of 142 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 156 ▪ 155 ▪ 149 |
▪ 143 ▪ 142 ▪ 143=1 |
Waiting for the pair to confirm its next move. |
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