US CB Consumer Confidence: Wednesday, 15:00. The Conference Board’s measure of consumer confidence reached a new high in November: 129.5 points. The last read for the year may be even higher thanks to the holiday season.
US Pending Home Sales: Wednesday, 15:00. Sales of homes pending the closing transaction jumped by 3.5% in October after three months of disappointments. We may see a slide in November.
USD
US CB Consumer Confidence
US Pending Home Sales
- EURUSD
As could be seen on the daily chart that the pair did not show any strong move in the previous sessions but we still have technical factors that support a bullish scenario that the pair may continue going up to reach the level of 1.2000 during the week. This is conditioned by the continuation of trading above the level of 1.1660.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.2100 ▪ 1.2000 ▪ 1.1960 |
▪ 1.1670 ▪ 1.1600 ▪ 1.1550 |
We remain bullish as long as the pair is traded above the level of 1.1660. |
- GBPUSD
As could on the daily chart that the pair moves within a very narrow range and is traded below the upside of the bearish channel. In case that the pair breaks through the upside of the bearish channel, the pair may continue going up to reach the level of 1.3540 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.3670 ▪ 1.3540 ▪ 1.3450 |
▪ 1.3320 ▪ 1.3250 ▪ 1.3200 |
We remain bearish as long as the pair is traded below the upside of the bearish channel. |
- GOLD
As could be seen on the daily chart that the pair is traded below a strong resistance level that the short term down trendline. In case it is broken, we will be waiting for more rise that the pair may reach the level of 1300 during the week. Otherwise, we are bearish and our targets are as following: 1275 – 1270 followed by 1260.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1310 ▪ 1300 ▪ 1290 |
▪ 1250 ▪ 1240 ▪ 1210 |
We remain bearish as long as the pair is traded below the downtrend line. |
- AUDUSD
The pair managed to break the level of 0.7740 (strong resistance 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 0.7810.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.8100 ▪ 0.8060 ▪ 0.7810 |
▪ 0.7740 ▪ 0.7500 |
We remain bullish as long as the pair is traded above the level of 0.7810. |
- GBPJPY
As could be seen on the chart above that the pair is traded within an ascending channel but there is nowhere to enter the market now. So, we will be waiting for the pair to reach either the upside that is where we can go short or the down side where we can go long. Generally speaking, having the pair traded above the 50 EMA opens the door for further upward movement that the pair can reach the level of 153 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 152.90 ▪ 152 |
▪ 148 ▪ 147 |
We remain bullish as long as the pair is traded above the 50 ema. |
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