US CB Consumer Confidence: Tuesday, 14:00. The Conference Board’s consumer confidence measure hit a high of 133.4 in August, the highest level since November 2000. The publication caught the attention of President Trump. Can it continue higher? Consumer sentiment is correlated with consumption. A score of 132.2 is on the cards.
USD
US CB Consumer Confidence
- EURUSD
As could be seen on the daily timeframe that the pair is still traded above the neckline of the head and shoulders patter shown on the chart above. Having the pair traded above the neckline opens the door for further upward movement during the week that it may reach the level of 1.1850. Breaking the resistance level of 1.1850 opens the door for further upward movement during the week that it may reach the level of 1.20.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.21 ▪ 1.1850 ▪ 1.18 |
▪ 1.15 ▪ 1.1450 ▪ 1.14 |
We are bullish as long as the pair is traded above the neckline. |
- GBPUSD
Having the pair traded below the resistance level of 1.33 is considered to be a bearish factor which can help the USD to gain value against the GBP. We also have a bearish engulfing pattern (bearish) that supports the negative scenario. Therefore, we are bearish as long as the pair is traded below the level of 1.33. First target: 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
As could be seen on the 4 hours chart that the pair is traded below a strong resistance level of 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 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
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 0.7160. On the other hand, if the downtrend line along with the resistance level of 0.7315 is broken, we can go long targeting the level of 0.74 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.7550 ▪ 0.7600 ▪ 0.7260 |
▪ 0.7160 ▪ 0.71 ▪ |
Waiting for the pair to reach the downtrend line. |
- GBPJPY
As could be seen on the chart above that the pair is traded below a strong resistance level that is 149.30 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 146 during the week. This is conditioned by the continuation of trading below the level of 149.30.
| 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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