US jobless claims: Thursday, 12:30. This weekly barometer of jobs has been very stable of late, coalescing around 240K. A similar measure is on the cards now. Note that the report falls within the week that the BLS makes its survey for the NFP. A small rise f240K to 244K is estimated.
Bill Dudley talks: Thursday, 14:00. The President of the New York Fed is considered No.3 at the powerful institution. He is relatively close to the views of Fed Chair Janet Yellen and his response to the jobs report, including wages, will be of importance.
USD
US jobless claims
- EURUSD
Update: We remain the same. The pair is traded right below a strong resistance level that could be found at 1.1900 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.1600. On the other hand, breaching the level of 1.1600 would open the door for further downward movements during the week that the pair may reach the level of 1.1500.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.1900 ▪ 1.1800 |
▪ 1.1540 ▪-1.1250 ▪ 1.1200 |
We remain bullish as long as the pair is traded above the level of 1.1600. |
- GBPUSD
Update: The pair might continue going down to reach the uptrend line shown on the chart. The pair is traded within an ascending channel as could be seen on the chart above. So, it may continue going down a little to the level of 1.3000 then a pullback is expected that it may reach the level of 1.3100 followed by 1.3300 during the week. On the other hand, breaching the level of 1.3000 can open the door for further downward movements during the day.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.3200 ▪ 1.3300 |
▪ 1.2900 ▪ 1.2800 ▪ 1.3000 |
The chances of bearish movements are very high |
- GOLD
Update: The pair managed to break through the level of 1273 which opens the door for the pair to reach the level of 1280. Last week, the pair manage to form a bearish candle that is (bearish engulfing). It is also traded right below a strong resistance level at 1273. So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1245.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1280 ▪ 1290 |
▪ 1245 ▪ 1210 ▪ 1200 |
We remain bullish as long as the pair is traded above the level of 1273. |
- AUDUSD
Update: We are very close to the first target. The pair is traded right below a strong resistance level that could be found at of 0.8000. 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 has successfully reached the uptrend line so we are waiting for some positive signs. This is the only confirmation we can rely on to go long. The level of 148 remains solid and we also have a strong support level that is the uptrend line shown on the chart in red. The pair may continue going down to reach the uptrend line, then a pullback is expected if it shows some positive factors to reach again the level of 148.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 148 ▪ 147.95 ▪ |
▪ 145 ▪ 142 ▪ 140 |
Waiting for the pair to reach the up trendline. |
