US GDP (final): Thursday, 12:30. The second read of Q2 GDP was upbeat, reaching the magic number of 3% annualized growth, better than 2.6% initially released. It is also a relief from poor growth rates seen in Q1 2017 and the whole of 2016. This is the final read of Q2 GDP. A small upgrade to 3.1% is on the cards.
USD
US GDP (final)
- EURUSD
Update: The pair is still traded below the broken level. The pair managed to breakthrough a strong support level that could be found at 1.1840 so this may open the door for the pair for further downward movement during the week that it may reach the level of 1.1650. Also, we will be waiting for the pair to confirm the breakout of the level of 1.1840 by a daily close.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.2000 ▪ 1.2100 ▪ 1.1840 |
▪ 1.1700 ▪-1.1650 ▪ 1.1600 |
The breakout for the level of 1.1840 is confirmed so the way is open for the pair to reach 1.1650. |
- GBPUSD
Update: The pair is still traded below the broken level. The pair was traded in a very narrow range between the support level of 1.3450 and the resistance level of 1.3600. Today, the pair managed to breach the support level of 1.3450 but it is not confirmed yet. We will need a confirmation of the breakout that is a daily close below the level of 1.3450.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.3700 ▪ 1.3650 |
▪ 1.3300 ▪ 1.3200 ▪ 1.2700 |
The breakout of the level of 1.3450 is confirmed. Therefore, we may go short targeting the level of 1.3300 followed by 1.3200. |
- GOLD
The pair managed to break through the level of 1290 which opens the door for the pair for further downward movement during the week that it may reach the level of 1274.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1350 ▪ 1340 ▪ 1290 |
▪ 1274 ▪ 1270 ▪ 1260 |
We remain bearish as long as the pair is traded below the level of 1290. |
- AUDUSD
Update: We remain the same. The pair is on its way to reach the level of 0.7800 followed by 0.7750. As we mentioned last week that the pair is traded below a strong resistance level at 0.8100 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 0.7650 during the week. This is conditioned by the continuation of trading below the level of 0.8100.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.8100 ▪ 0.8060 |
▪ 0.7600 ▪ 0.7500 |
Expected to show bullish pressures |
- GBPJPY
As could be seen on the weekly chart that the pair is traded above a strong support level that could be found at 150 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 154 followed by 155 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 152 ▪ 151 ▪ 155 |
▪ 148 ▪ 147 |
Expected to show more bearish pressures. |
