News & Research

Land Prime analyst Shadi Abdo

• Member of The Egyptian Society of Technical Analyst
• Head of Education department, Market Strategist, Chief Technical Analyst of Global Leading Forex Brokerage companies
• Trained over 5000 professional trainers more than 10 years
• BSc in Economics from Mansoura University

10 February 2017

powered by Land Prime

German GDP data: Germany’s economic growth softened in the third quarter of 2016 due to weaker exports. Europe’s strongest economy expanded a modest 0.2% between July and September compared to 0.4% growth in the prior quarter. Economists expected a higher reading of 0.3%. Some analysts believe Britain’s vote to leave the European Union had a negative effect on domestic activity. Another threat to the economy came from the newly elected US President Donald Trump and his trade policy campaign to limit foreign imports. This could inflict a major blow to Germany’s economic growth. Analysts expect a growth rate of 0.5% in the fourth quarter of 2016. UK Inflation data: UK inflation edged up in December to 1.6%, the highest rate since July 2014. The reading exceeded analysts’ forecast of 1.4% and followed a 1.2% gain in November. Higher air fares and food prices fueled up this rise. However, the annual rate remains below the Bank of England’s. The sterling fell sharply against many currencies following the Brexit vote making manufacturers pay 16% more on raw materials. Mark Carney said consumer spending could be hit by rising prices from the weaker pound. CPI is expected to rise 1.9% in January. US PPI: U.S. producer prices increased by a seasonally adjusted 0.3% in December. The reading was higher than the 0.1% rise expected by analysts and followed a 0.4% increase in the previous month. Core producer prices gained 0.2%. The headline PPI index climbed 1.6% in 2016 after a 1.1% decline in 2015. Producer prices are estimated to gain 0.3% in January. Janet Yellen speaks: Tuesday, 15:00. The chair of the Federal Reserve Janet Yellen will testify on the Semiannual Monetary Policy Report before the Senate Banking Committee, in Washington DC. Yellen may talk about the Fed plans to put future US interest rate increases on hold following the fall in global stock markets since the start of the year. Growth may be effected by the uncertainty around China’s trade policy despite the fact that the US economy is in many ways close to normal with a steady job creation and faster wage growth

CAD
Employment data
USD
US Prelim UoM
Your capital is at risk!

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• EURUSD

Having the pair traded below the level of 1.0620 along with the broken uptrend line (acts as a strong resistance level) this can help the USD to gain value against the EURO that the pair may reach the level of 1.0550 during the day.

Resistance levels:	Support levels:	Recommended:
▪ 1.0620 ▪-- ▪ --	▪ 1.0550 ▪-- ▪ --	We remain bearish as long as the pair is traded below the level of 1.0620.

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• GBPUSD

The pair is traded above a strong support level around 1.2470 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1.2650 during the day. If the pair breaks through the level of 1.2470 then the way would be open for the pair to reach the level of 1.2400.

Resistance levels:	Support levels:	Recommended:
▪ 1.2670 ▪ 1.2700  ▪ --	▪ 1.2470 ▪ 1.2400 ▪ --	We remain bullish as long as the pair is traded above the level of 1.2470

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• GOLD

The gold may continue going up to reach the level of 1235 during the day. So we will be waiting for the pair to reach that level then a pullback is excepted if it shows some negative factors below it.

Resistance levels:	Support levels:	Recommended:
▪ 1235 ▪ 1240 ▪ --	▪ 1220 ▪ -- ▪ --	Waiting for the gold to reach the level of 1235

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• AUDUSD

The pair is going to be traded near to very strong resistance levels around 0.7700 – 0.7730 so if the pair shows some negative factors below them, we may go short targeting the level of 0.7600 during the day

Resistance levels:	Support levels:	Recommended:
▪ 0.7700 ▪0.7730 ▪--	▪ 0.7600 ▪0.7530 ▪ --	We remain bearish as long as the pair is traded below the level of 0.7730

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• GBPJPY

The pair is traded above a strong support level around 142 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 143 during the day. On the other hand, breeching the level of 142 along with the downside of the ascending channel shown on the chart, would open the door for the pair to reach the level of 140.75 during the day.

Resistance levels:	Support levels:	Recommended:
▪ 144 ▪ 143 ▪ --	▪ 142 ▪ 142 ▪ 141 ▪ 140.75	We remain bullish as long as the pair is traded above the level of 142.