27 August 2019

US CB Consumer Confidence: Tuesday, 14:00. The Conference Board’s monthly survey of consumers has rebounded in July, scoring 135.7 points. The upbeat figure may be followed by a weaker one in June. The University of Michigan’s parallel measure missed estimates in the preliminary publication for August.

US GDP (second release): Thursday, 12:30. The US economy has outperformed its peers in the second quarter by growing at an annualized rate of 2.1% according to the initial release. This expansion stands out against contraction in Germany and in the UK. The second release will likely confirm the upbeat level, and any deviation will impact the Fed.

USD
US CB Consumer Confidence
US GDP (second release)

  • EURUSD

As could be seen on the chart above that the pair is traded above a strong support level that is 1.1030. Therefore, we are bullish as long as the pair is traded above it. Our first target is 1.1170

Resistance levels: Support levels: Recommended:
▪ 1.1500
▪ 1.1450
▪ 1.12
▪ –
▪ –
▪ 1.1030
We are bullish as long as the pair is traded above the level of 1.1030.
  • GBPUSD

As could be seen on the chart above that the pair is traded above a strong support level that is 1.2010. So, we are bullish as long as the pair is traded above it. Our first target us 1.24.

Resistance levels: Support levels: Recommended:
▪ 1.36
▪ 1.3310
▪ 1.2550
▪ –
▪ –
▪ 1.20
We are bullish as long as the pair is traded above the level of 1.20.
  • GOLD

The chart above shows that the pair has made a new peak. This could mean that the pair is about to correct as a result of the new high. We can wait for the pair to reach the support level of 1490 then we can go long targeting the level of 1540 in case the pair shows up some bullish evidence above the support level mentioned before.

Resistance levels: Support levels: Recommended:
▪ 1550
▪ 1540
▪ 1490
▪ 1260
▪ 1265
Waiting for the pair to reach the support level of 1490.
  • AUDUSD

The daily timeframe shows that the pair is traded above a strong support level that is 0.6680. We also find a strong resistance level at 0.6827. If the pair managed to break through the resistance level, we can go long targeting the level of 0.70 during the week.

Resistance levels: Support levels: Recommended:
▪ 0.7550
▪ 0.7600
▪ 0.7000
▪ 0.6680
▪ 0.6650
▪ –
Waiting for the confirmation
  • GBPJPY

As could be seen on the chart above that the pair should go down to reach the support level of 126.68. In case this happens, we will be waiting for some bullish evidence to show up then we can go long targeting the level of 131 during the week.

Resistance levels: Support levels: Recommended:
▪ 156
▪ 155
▪ 141
▪ 126.68
▪ 126.50
▪ 126
Waiting for some confirmations.

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