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

15 February 2017

powered by Land Prime

UK Employment data: The number of people claiming jobless benefits declined by 10,100 to 797,800 in December contrary to 4,600 gain estimated by analysts. UK employment market remained resilient with rising employment and steady wage growth. However the question is whether salary increase will catch up with inflation. Economists claim the government needs to increase investment after the Brexit to prevent a decline in living standards. UK jobless claims are expected to increase 1,100 in January. 

US Inflation data:   U.S. consumer prices gained 0.3% in December as households spent more on gasoline and rental accommodation, suggesting inflation pressures begin to mount. This was the biggest increase in two years, in accord with market forecast. Meanwhile, Core CPI, excluding food and energy costs, rose 0.2% as in November. As a result, the core CPI was up 2.2% in the 12 months through December, from 2.1 percent in November. Economists expect a 0.3% gain in consumer prices and a  0.2% rise for core CPI.

GBP 
UK Employment data
USD
US Inflation data

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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 ▪ 1.0730 ▪ --	▪ 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 ▪ --	▪ 1.2400 ▪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 down to reach the level of 1221 during the day. So we will be waiting for the pair to reach that level then a pullback is excepted if it shows some positive factors above it.

Resistance levels:	Support levels:	Recommended:
▪ 1235 ▪ 1240 ▪ --	▪ 1220 ▪ -- ▪ --	Waiting for the gold to reach the level of 1221

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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 may contuine going up to reach the level of 141.70 during the day this is where we can go short in case we find some negative factors below that level. By then, we can go short targeting the level of 141 during the day.

Resistance levels:	Support levels:	Recommended:
▪ 144 ▪ 143 ▪ --	▪ 142 ▪ 142.10 ▪ 141 ▪ 140.75	Waiting for the pair to reach the level of 141.70 during the day