Technical View Of Gold, GBP/USD And EUR/USD

Headlines the Economic Calendar on Wednesday

US JOLTs Job Openings

The US Bureau of Labor Statistics will release its opening survey for October. On average, economists expect that the job vacancies rise to 6.300 million in October from 6.436 million in September.

BoC Interest Rate Decision

The is widely expected to keep interest rates on hold today. The Rate Decision is due at 15:00 GMT today. Any surprising revision would lead to volatility in the Canadian Dollar this week.

US Crude Oil Inventories

stocks today to be published in the U.S and it is expected to decline by -1.424M this week. If we look at last week’s data; oil stocks declined by -0.679M barrels. It will be important for oil prices.

Technical Analysis:

{0|EUR/USD}}: We are closely watching the 1.2046 main support level in the pair. As long as the pair stays above 1.2046, on a daily basis, we will see 1.2214 as a resistance level. On the downside, if the price drops below 1.2046, we will follow the next support level at 1.1819.

Support : 1.2046 – 1.1819 – 1.1744
Resistance : 1.2214 – 1.2391 – 1.2536

GBP/USD: Focus on the 1.3392 main resistance level in the pair. If the price stays below 1.3392, we will see the support level at 1.3313. On the upside, if the price goes beyond 1.3392, the daily resistance level can be found at 1.3519.

Support: 1.3313 – 1.3231 – 1.3136
Resistance: 1.3392 – 1.3517 – 1.3599

EUR/GBP: The pair is now trading above the 0.9060 major support level. As long as the pair stays above 0.9060 on a four hourly basis, we will see resistance levels at 0.9199. On the other hand, if the price drops below 0.9060, the next support level will be at 0.9026.

Support: 0.9060 – 0.9022 – 0.8991
Resistance: 0.9099 – 0.9148 – 0.9199

GBP/JPY: The pair moved back up above the daily support level of 139.24. As long as the pair sustains above 139.24 on a daily basis, we will see the resistance level at 140.59. On the other hand, if the pair fall back below 139.24, the next support level will be placed at 138.25

Support: 139.24 – 138.25 – 136.98
Resistance: 140.59 – 142.62 – 143.69

Gold: The Price is now trading above the daily support level of 1854. As long as the price stays above 1854, on a daily basis, we will see the key resistance level at 1873 again. On the downside, if the price breaks down below 1854, the next support level will be at 1829.

Support: 1854 – 1829 – 1805
Resistance: 1873 – 1904 – 1932

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