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Market Analysis for week of August 17th, 2015

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Pair: EURUSD

Resistance: 1.1120, 1.1215, 1.1300
Support:  1.1050, 1.920, 1.0870, 1.0800
Bias: Neutral to Short. EURSUD went up to test the 1.1215 level last week but failed to hold above. The pair has been range bound for a number of weeks now and we expect more of that this week. We may see more downward pressure on the EUR looking towards the bottom of the range if it fails to hold above 1.1050.

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Pair: GBPUSD

Resistance:  1.5690, 1.5800
Support: 1.5600, 1.5580, 1.5425, 1.5335
Bias: Neutral. GBP has been trading in the range 1.5468 – 1.5690 for a while now. The pair pushed up to test the high of the range at 1.5690 but wasn’t able to hold above.We’ll look for the price to break and hold above or below the range to get a clear read on the direction for this pair. For now, we’ll look to short 1.5690 and go long at 1.5450 levels.

Fundamentals

Below is High Impact News scheduled for this week:

Monday

  1. AUD Monetary Policy Meeting Minutes – 9:30pm EST

Tuesday

  1. GBP CPI y/y – 4:30am EST
  2. USD Building Permits – 8:30am EST
  3. NZD GDT Price Index – Tentative

Wednesday

  1. USD CPI m/m – 8:30am EST
  2. USD Core CPI m/m – 8:30am EST
  3. USD FOMC Meeting Minutes – 2:00pm EST
  4. JPY Monetary Policy Statement – Tentative

Thursday

  1. GBP Retail Sales m/m – 4:30am EST
  2. CAD Wholesale Sales m/m – 8:30am EST
  3. USD Unemployment Claims – 8:30am EST
  4. USD Philly Fed Manufacturing Index – 10:00am EST

Friday

  1. EUR French Flash Manufacturing PMI – 3:00am EST
  2. EUR German Flash Manufacturing PMI – 3:30am EST
  3. German Prelim GDP q/q – 2:00am EST
  4. CAD Core CPI m/m – 8:30am EST
  5. CAD Core Retail Sales m/m – 8:30am EST
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