29 May 2019
powered by Land-FX
Canadian rate decision: Wednesday, 14:00. The Bank of Canada has already removed its hawkish bias and does not intend to raise interest rates. However, the jobs market continues booming and it may eventually push inflation higher. The BOC is set to keep its interest rate unchanged at 1.75% but the tone of the statement may rock the Canadian dollar. Governor Stephen Poloz and his team will likely remain cautious despite the employment data.
CAD
Canadian rate decision
- EURUSD
As could be seen on the chart above that the pair is about to reach a strong support area that could be found at 1.1118. Therefore, we will be waiting for the pair to reach this level then in case it shows up some bullish evidence, we can go long targeting the level of 1.1217 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.21 ▪ 1.1850 ▪ 1.1217 |
▪ – ▪ – ▪ 1.1118 |
Waiting for the pair to reach the support area. |
- GBPUSD
As could be seen on the chart above that the pair has reached the support area located between 1.27 to 1.2250 which is where we can look for some bullish evidence then we can go long targeting the level of 1.29 during the week.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1.36 ▪ 1.3310 ▪ 1.33 |
▪ – ▪ 1.27 ▪ 1.26 |
Waiting for some bullish evidence to show up |
- GOLD
As could be seen on the chart above that the pair is about to reach a strong support level that is 1266 which is where we can look for some bullish so we can go long.. This scenario will be updated very soon.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 1350 ▪ 1365 |
▪ 1245 ▪ 1260 ▪ 1265 |
Waiting for the pair to reach 1266. |
- AUDUSD
The chart above shows that the pair is traded below a strong resistance level that is 0.70. We are bearish as long as the pair is traded below 0.70. Our first target is: 0.6780.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 0.7550 ▪ 0.7600 ▪ 0.7000 |
▪ 0.6788 ▪ – ▪ – |
We are bearish as long as the pair is traded below the level of 0.70. |
- GBPJPY
As could be seen on the chart above that the pair is traded below a strong resistance level that is 140.20 which means that the pair might continue going do to reach its first target at 136.
| Resistance levels: | Support levels: | Recommended: |
| ▪ 156 ▪ 155 ▪ 141 |
▪ 136 ▪ 135 ▪ 134 |
We area bearish as long as the pair is traded below the level of 140.20 |
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