Headlines the Economic Calendar on Tuesday
US Housing Starts will be announced and it is a critical indicator of economic strength in the US. The market expects housing starts to rise to 1.345 mln from 1.314 mln.
US Building Permits as another key indicator of demand in the housing market measure the change in the number of new building permits issued by the government. It is expected to come out at 1.410 mln in November.
Moreover, the US Bureau of Labor Statistics will release its JOLTS job opening survey for October. On average, economists expect that the job vacancies ease to 7.018 million in October from 7.024 million in September.
Technical Analysis:
EUR/USD: We are closely watching the daily resistance level of 1.1165 in the EUR/USD pair. In order for the upward movement to gain more power, it needs to break out and stay above 1.1165 on a daily basis. Should this occur, we will see 1.1237 as the next resistance level. Otherwise, we will follow the support level at 1.1114 again.
Support : 1.1114 - 1.1052 - 1.0007 Resistance : 1.1165 - 1.1237 - 1.1307
Gold: Focus on the main level of 1478 in the Gold Price. In order for the upward movement to gain more momentum, it needs to stay above 1478 on a four hourly basis. In this case, the next resistance level can be seen at 1492. Otherwise, the support level can be found at 1466.
Support: 1466 - 1453 - 1440Resistance: 1478 - 1492 - 1509
USD/CHF: The USD/CHF pair is now trading below the main resistance level of 0.9831. As long as the price stays below 0.9831 on a four-hour hourly basis, the downward movement may continue and we will see the key support level at 0.9757. On the upside, if the price goes above 0.9831, the next daily resistance level can be found at 0.9877.
Support: 0.9757 - 0.9707 - 0.9656Resistance: 0.9831 - 0.9877 - 0.9938
AUD/USD: The AUD/USD pair is trading above the 0.6848 daily support level. As long as the price stays above 0.6848, on a daily basis, the downward movement may be paused and the main resistance level can be seen at 0.6909 again. On the other hand, if the price drops below 0.6848, the next support level will be at 0.6798.
Support: 0.6848 - 0.6798 - 0.6729 Resistance: 0.6909 - 0.6965 - 0.7020
USD/TRY: The USD/TRY pair has been rising for three days. If the upward movement continues, we will follow the resistance level at 5.9763. On the downside, if the pair breaks down 5.7679, the next support level will be at 5.6027.
Support: 5. 7679 - 5.6027 - 5.4538Resistance: 5.9763 - 6.1475 - 6.3364
EUR/JPY: The EUR/JPY pair is moving towards the 122.37 main resistance level. In order for the rise to continue, it needs to stay above 122.37 on a daily basis. At this point, we will see 123.14 as the next resistance level. Otherwise, we will follow the support level at 121.59.
Support : 121.59 - 120.75 - 120.13Resistance: 122.37 - 123.14 - 124.24
SILVER: The Silver Price showed an upward movement above the 16.94 main support level. As long as the price stays above 16.94, on a daily basis, the rise may gain more power and we will watch resistance levels at 17.30 and 17.65. On the downside, if the price drops below 16.94, the next support level can be seen at 15.67
Support: 16.94 - 16.67 - 16.28Resistance: 17.30 - 17.65 - 17.93