US PPI: Thursday, 12:30. Producer prices serve as a warm up to consumer prices and have an impact on future CPI. In May, prices remained flat, as expected. Core PPI rose by 0.3%, beating expectations. PPI is expected to stay flat while Core PPI will likely rise by 0.2%.
USD
US PPI
- EURUSD
Update: We remain the same. As could be seen on the chart above that the pair is traded right above a strong support level that could be found around the level of 1.1300. So, we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1.1610 during the day.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.1610 ▪ ▪ |
▪ 1.1300 ▪-1.1250 ▪ 1.1200 |
We remain bullish as long as the pair is traded above the level of 1.1300. |
- GBPUSD
Update: We remain the same. 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 1.3040 |
- GOLD
The pair manage to break through the resistance level of 1217 so it may continue going up to reach the level of 1225 followed by 1230.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1270 ▪ 1265 ▪ 1225 |
▪ 1215 ▪ 1210 ▪ 1200 |
We remain bearish as long as the pair is traded below the level of 1217 |
- AUDUSD
Update: we are waiting for the pair to give a bearish sign right below the level of 0.7750. 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 0.7700 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 0.7600 followed by 0.7500 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.7700 ▪-0.7800 ▪ 0.7850 |
▪ 0.7600 ▪ 0.7550 ▪ 0.7500 |
We remain bearish as long as the pair is traded below the level of 0.7750. |
- GBPJPY
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 148. So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 147 followed by 146 during the week.
| 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. |
