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
14 March 2017
powered by Land Prime
US Producer Prices: Tuesday, 12:30. US producer prices edged up 0.6%, recording their largest gain in four years due to increases in the cost of energy products, However, the strength of the dollar kept inflation tame. Economists expected a 0.3% rise. Despite this sharp gain, the PPI yearly growth remained unchanged at 1.6% as in the 12 months through December. Core PPI, a more reliable measure of underlying producer price pressures excluding food, energy and trade services increased 0.2% after gaining 0.1% in December. Producer prices are expected to rise 0.1% this time.
CNY
Industrial Production y/y
USD
PPI m/m
- GOLD
Update: very narrow movement, nothing new for today. The pair may continue going up to find its first strong resistance level that is located around 1216. So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1190 during the week. On the other hand, breaching the level of 1216 can open the door for further upward movement that the pair may reach the level of 1230 followed by 1240 during the week.
Resistance levels: |
Support levels: |
Recommended: |
▪ 1260 ▪ 1240 ▪ 1230 ▪ 1216 |
▪ 1190 ▪ 1180 ▪ -- |
We remain bearish as long as the pair is traded below the level of 1216 |
- GBPJPY
Update: a slight weakness could be noted on the pairs of GBP. Today's bearish candle doesn't have that much effect on the pair, it is just the beginning of the day. The pair is traded right above a very strong support level around 138.70 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 week. On the other hand, breaching the level of 138.70 opens the door for further downward movement that the pair may reach the level of 137 during the week.
Resistance levels: |
Support levels: |
Recommended: |
▪ 142 ▪ 142.70 ▪ -- |
▪ 138.70 ▪ 138 ▪ 137
|
We remain bullish as long as the pair is traded above the level of 138.70 |