With no high impact news for the greater part of this week, we are looking at a calm trading session.
Quiet sessions are often characterized by price respecting technicals steadily heading for known support resistance levels.
A glimpse at the overall market sentiment shows that dollar weakness is still lingering across all currency pairs and instruments paired with the USD.
In the EURUSD, for instance, price is stuck at the June 2018 levels with bullish daily and weekly candles still printing.
Unless there is a major fundamental reason that says otherwise, I am looking at the EURUSD shoot above 1.2000 levels.
If you are trading Gold, EURJPY, EURUSD, and GBPUSD here are the key levels to watch this week.
Key Price levels this week.
Pivot – 1.18044
Resistance Levels: 1.18629, 1.18990, 1.19248, 1.19576
Support Levels: 1.17458, 1.17097, 1.16840, 1.16512
Pivot – 1.30768
Resistance Levels: 1.31293, 1.31618, 1.31849, 1.32144
Support levels. 1.30242, 1.29917, 1.29686, 1.29392
Pivot – 125.742
Resistance levels: 126.678, 127.257, 127.669, 128.194
Support levels: 124.805, 124.226, 123.814, 123.290
Pivot – 1952.23
Resistance levels: 2023.82, 2068.04, 2099.53, 2139.63
Support Levels: 1880.64, 1836.42, 1804.93, 1764.83
Key Fundamentals this week.
Monday, August 17
NO high impact news
Tuesday, August 18
No major news events.
Wednesday, August 19
All – OPEC-JMMC Meetings
USD – Crude Oil Inventories
USD – FOMC Meeting Minutes
Thursday, August 20
USD – Philly Fed Manufacturing Index
USD – Unemployment Claims
USD – CB Leading Index m/m
Friday, August 21
EUR – French Flash Services PMI
EUR – French Flash Manufacturing PMI
EUR – German Flash Manufacturing PMI
EUR – German Flash Services PMI
EUR – Flash Manufacturing PMI
EUR – Flash Services PMI
GBP – Flash Manufacturing PMI
GBP – Flash Services PMI
USD – Flash Manufacturing PMI
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Till next week.
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