US PPI: Tuesday, 12:30. Producer prices feed into consumer prices, which are eyed by the Fed. Headline PPI advanced by 0.5% back in April and a slowdown to 0.1% is on the cards now. Core PPI rose by 0.4% and is expected to decelerate to 0.2% in May.
USD
US PPI
ㅠㅍ- EURUSD
Update: we remain bearish as long as the pair is traded below the level of 1.1290. As could be seen on the chart above that the pair is traded below a strong resistance level around 1.1300. It also matches a Fibonacci level of 0.386 (From 14.10.2014 to 03.01.2017). So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.1200 followed by 1.1100 during the week. On the other hand, if the level of 1.1300 is broken (by at least a daily close) then the way would be open for the pair to reach 1.1400.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.1275 ▪-1.1300 ▪ 1.1350 |
▪ 1.1200 ▪-1.1150 ▪ 1.1100 |
We remain bearish as long as the pair is traded below the level of 1.1272. |
- GBPUSD
As could be seen n the chart above that the pair is traded below a strong resistance level around 1.2775 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.2650.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.3000 ▪-1.3100 ▪ 1.2775 |
▪ 1.2650 ▪ 1.2600 ▪ — |
We remain bearish as long as the pair is traded below the level of 1.3000 |
- GOLD
Update: the pair is on its way to reach the level of 1260. The pair is traded above the level of 1250 which is a strong support level. So, we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1300 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1350 ▪ 1300 ▪ 1290 |
▪ 1260 ▪ 1220 ▪ 1200 |
We remain bullish as long as the pair is traded above the level of 1250 |
- AUDUSD
Update: the pair is on its way to reach the level of 0.7500. The pair is traded above a strong support level that could be found around 0.7500 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 0.7600 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ ▪ 0.7600 ▪-0.7700 |
▪ 0.7350 ▪ 0.7300 ▪ 0.7250 |
We remain bearish as long as the pair is traded above the level of 0.7500. |
- GBPJPY
The pair is on its way to reach a strong resistance level that could be found around 140.70. So, from there we can go short targeting the level of 139 followed by 138.70.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 144 ▪ 145 ▪ 146 |
▪ 138.70 ▪ 139 ▪ |
We remain bearish as long as the pair is traded below the level of 141. |
