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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

23 February 2017

powered by Land Prime

 

 

 

US Unemployment Claims: Thursday, 13:30. The number of Americans who filed claims for unemployment benefits rose by 5,000 to 239,000 in the week from Feb. 5 to Feb. 11. However the number remained at exceedingly low levels indicating the a nearly eight-year-old economic recovery. Economists expected claims to reach 243,000. The four-week average of claims increased by a mere 500 to 245,250, the lowest level in 44 years. Analysts estimate an increase of 242,000 new claims this week.

Philip Lowe speaks: Thursday, 22:30. RBA Governor Philip Lowe will testify before the House of Representatives Standing Committee on Economics, in Sydney. The governor urged the Federal Government to invest more in infrastructure to help boost economic activity amid Australia’s high population growth. Philip Lowe opposes Donald Trump’s policy of trade barriers saying Australia is a country that has benefited greatly from the open international trading system. Philip Lowe said economic conditions are improving and the RBA expects the economy will average about 3% growth over the next few years. Furthermore the governor expects the downtrend from the mining boom to be finished in the coming months.


USD
US Unemployment Claims

  • EURUSD

The pair is about to break through the level of 1.0540 so if this happens then we may go short targeting the level of 1.0500 during the day.

Resistance levels: Support levels: Recommended:
1.0674
-1.0522
--
1.0500
-1.0400
--
We remain bearish as long as the pair is traded below the level of 1.0540
  • 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
  • GOLD

As could be seen on the chart that the pair is traded above a strong support level which is the uptrend line so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1242 during the day. On the other hand, breaching the uptrend line opens the door for the pair to reach the level of 1226 during the day.

Resistance levels: Support levels: Recommended:
1242
1240
-1.238
1232
1210
--
We remain bearish as long as the pair is traded above the uptrend line.
  • 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 the pair is traded below the level of 0.7730
  • GBPJPY

The pair is traded above an uptrend line as could be seen on the chart. So we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 142 during the day. On the other hand, breaching the level of 140.40 along with the short term uptrend line can help the JPY gain value against the GBP that it may reach the level of 139 during the day.

Resistance levels: Support levels: Recommended:
142
143
--

140
-139
--

We remain bullish as long as the pair is traded above the level of 140.