29 January 2019

US CB Consumer Confidence: Tuesday, 15:00. The Conference Board’s gauge of consumer confidence stood at 128.1 points in December, off the peak levels, but still reflecting an upbeat mood among American shoppers. After the preliminary gauge by the University of Michigan dropped, we can expect the CB indicator to fall as well. A score of 125 is on the cards.

USD
US CB Consumer Confidence

EURUSD

The daily timeframe shows that the pair is traded above a strong support level that is 1.1217. So, we are bullish as long as the pair is traded above this level. Our first target: 1.1535 followed by 1.1620.

Resistance levels:	Support levels:	Recommended:
▪ 1.21 ▪ 1.1850 ▪ 1.18	▪ – ▪ 1.1217 ▪ 1.10	We are bullish as long as the pair is traded above the level of 1.1250.

GBPUSD

There is no strong level where we can enter the market for now. Therefore, we will be waiting for the pair to reach the resistance area between: 1.32 to 1.33. This is where we can look for some bearish evidence, then we can go short targeting the level of 1.30 followed by 1.29 during the week.

Resistance levels:	Support levels:	Recommended:
▪ 1.36 ▪ 1.33 ▪ 1.32	▪ 1.2550 ▪ 1.2370 ▪ 1.23	Waiting for the pair to reach the resistance area between 1.32 – 1.33

GOLD

The pair managed to breakthrough a strong resistance level that is 1298, so it is traded above it which means that the pair might continue going up. We cannot enter the market for now so it is better to wait for the pair to test the broken level (1298) then we can go long targeting the level of 1310 during the week.

Resistance levels:	Support levels:	Recommended:
▪ 1330 ▪ 1310	▪ 1298 ▪ 1180 ▪ 1170	We are bullish as long as the pair is traded above the level of 1298.

AUDUSD

The daily timeframe shows that the pair is about to reach a strong support level that is 0.70. In case the pair reaches this level and shows up some bullish evidence, we can go long targeting the level of 0.71 followed by 0.72 during the week.

Resistance levels:	Support levels:	Recommended:
▪ 0.7550 ▪ 0.7600 ▪ 0.7260	▪ 0.7000 ▪ – ▪ –	We are bullish as long as the pair is traded above the level of 0.70.

GBPJPY

The daily timeframe shows that there is a strong crossover that was formed by the downtrend line (in red) and the up trendline (in blue). This makes a very strong resistance level. Therefore, we will be waiting for the pair to reach this area, then we can go short targeting the level of 141 followed by 140 during the week.

Resistance levels:	Support levels:	Recommended:
▪ 156 ▪ 155 ▪ 141.34	▪ 136 ▪ 135 ▪ 134	Waiting for the pair to reach the crossover area.

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