Key Price Levels for GBPUSD, EURUSD, EURJPY, and Gold – August 17-21, 2020

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.

Need a forex broker? Try Tickmill or XM with a $30 no deposit bonus and eToro for US citizens.

Key Price levels this week.

EURUSD.

EURUSD-weekly-forecast-august-17

Pivot – 1.18044

Resistance Levels: 1.18629, 1.18990, 1.19248, 1.19576

Support Levels: 1.17458, 1.17097, 1.16840, 1.16512

GBPUSD.

GBPUSD weekly forecast August 17

Pivot – 1.30768

Resistance Levels: 1.31293, 1.31618, 1.31849, 1.32144

Support levels. 1.30242, 1.29917, 1.29686, 1.29392

EURJPY.

EURJPY weekly forecast August 17

Pivot – 125.742

Resistance levels: 126.678, 127.257, 127.669, 128.194

Support levels: 124.805, 124.226, 123.814, 123.290

GOLD.

Gold weekly forecast August 17

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

Need a forex broker? Try Tickmill or XM with a $30 no deposit bonus and eToro for US citizens.

Final remarks.

Want the key levels of any instrument you are trading on MT4?

Signup to my newsletter to receive the Pivot indicator.

With it you can get the key price levels for any instrument you are trading on any MT4 platform.

Till next week.

Trade responsibly.

Hit the bell icon on the bottom right of this page to subscribe for notifications and follow me on Twitter @thetraderinyou to be the first to know when an article like this is published.

Need to try a new forex broker? Grab a $30 no deposit bonus from XM and Tickmill and trade risk-free. You can withdraw your profits.

#COVID-19 is real, be safe. #Trade safe and follow your rules. #forex #investment Click To Tweet
Tickmill-30-no-deposit-bonus_728X90_en

Leave a Comment

Are you SICK of loosing money and your mind trading?

Join traders like you and receive exclusive actionable trade ideas and resources that will help you extract money every day from the markets.