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

16 February 2017

powered by Land Prime

1. Australian employment data: Thursday, 0:30. The Australian employment market created 13,500 new jobs in December exceeding market forecast. However, the unemployment rate inched up to 5.8% from 5.7% as more people looked for jobs expanding the participation rate to 64.7%. The majority of jobs were full time positions, with 9,500 new jobs. Part time positions registered a 4,500 gain. However, economists claim the main impact came from biotech giant CSL recruiting 10% in December.

2. US Building Permits: Thursday, 13:30. The number if building permits declined 0.2% in December, reaching an annual rate of 1.21 million. Economists expected a larger gain of 1.22 million units. Housing starts edged up 11.3% at a seasonally adjusted annual rate of 1.226 million. On an annual base, housing starts gained 1.17 million units, the strongest since 2007 amid rising demand.

3. US Philly Fed Manufacturing Index: Thursday, 13:30. Business activity in the Philadelphia area picked up in January to its strongest level in over two years amid a rise in new orders and employment as well as an improved six-month outlook. Current condition edged up to 23.6 in January, the highest since November 2014. The sharp increase is also attributed Donald Trump’s U.S. presidential win as business owners look forward to tax cuts, infrastructure spending and looser regulations to promote faster economic growth.

4. US Unemployment Claims: Thursday, 13:30. The number of Americans filing new claims for unemployment benefits fell sharply in the week ended Feb. 4 to near a 43-year low of 234,000. The 12,000 decline was contrary to analysts’ prediction and continued the streak of low jobless claims, indicating a solid labor market. The labor market is at or close to full employment, with the unemployment rate at 4.8% after a nine-year low of 4.6% posted in November. Further tightening in labor market will boost wage growth. The four-week moving average of claims fell 3,750 to 244,250, the lowest level since November 1973

UAD
Employment data
USD
Building permits
Philly Fed Manufacturing
Unemployment Claims

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• EURUSD

Yesterday's scenario is still active. 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 ▪ --	▪ 1.2470 ▪ 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 is traded below a strong resistance level around 1235 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1230 followed by 1225 during the day. On the other hand, breaching the level of 1235 opens the door for the Gold to reach the level of 1242

Resistance levels:	Support levels:	Recommended:
▪ 1235 ▪ 1240 ▪ --	▪ 1220 ▪ -- ▪ --	We remain bearish as long as the Gold is traded below the level of 1235

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• AUDUSD

he 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

As could be seen on the 4H chart that the pair is traded below a strong resistance level around 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 142 during the day.

Resistance levels:	Support levels:	Recommended:
▪ 144 ▪ 143 ▪ --	▪ 141 ▪ 140.75 ▪ --	Waiting for the pair to rach the level of 142.50