17 March 2017
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US Prelim UoM Consumer Sentiment: Friday, 15:00. Consumer confidence declined in February to a three-month low of 95.7 from 98.5 in January, down from a 13-year high, amid milder expectations on finances and the economy. The results reflected clear differences between Republicans and Democrats following the election of Donald Trump as president. Republicans registered sentiment about 40 points higher than Democrats, according to the survey. The current conditions index inched down to 111.2 from a reading of 111.3 in the prior month. Future expectations six months from now decreased to a three-month low of 85.7 from 90.3. Consumer moral is expected to increase to 97.1 this time.
CAD Manufacturing Sales m/m
USD Prelim UoM Consumer Sentiment
- GOLD
As could be seen on the chart the Gold managed to form a harmonic pattern and the Gold is traded now right below our PRZ (Potential Reversal Zone) At the same time, if the pair continues to be traded above the level of 1220 then our final targets 1240 – 1250 remain the same.
Resistance levels: |
Support levels: |
Recommended: |
▪ 1260 ▪ 1240 ▪ 1230 |
▪ 1220 ▪ 1290 ▪ 1180 |
We remain bullish as long as the pair is traded above the level of 1220. |
- GBPJPY
The pair is traded in a very narrow range between 142.50 (the high) to 139 (the low). For now, it is traded right below the level of 142.50 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 138.60 during the day.
Resistance levels: |
Support levels: |
Recommended: |
▪ 142 ▪ 142.70 ▪ -- |
▪ 138.70 ▪ 138 ▪ 137
|
We remain bearish as long as the pair is traded below the level of 142.50 |