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Market Research & Info

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

26 May 2017

powered by Land Prime

 

 

UK GDP (second release): Thursday, 8:30. The first release of UK GDP showed a significant drop in growth, 0.3%. Brexit is beginning to bite and consumption has softened as prices rise. The number will likely be confirmed now.
US jobless claims: Thursday, 12:30. The weekly barometer of the US jobs market has been very stable of late but they are going in the right direction: a drop to only 232K in the past week.

 

USD 
US jobless claims
GBP 
UK GDP
  • EURUSD


As could be seen on the chart above that the pair is traded right below a strong resistance level that can be found around 1.1272. Therefore, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.1200. On the other hand, if the pair breaks through the level of 1.1272 (a daily close above it) then we may go long targeting the level of 1.1300 followed by 1.1350.


Resistance levels: Support levels: Recommended:
▪ 1.1272
▪-1.1300
▪ 1.1350		 ▪ 1.1200
▪-1.1150
▪ 1.1100

We remain bearish as long as the pair is traded below the level of 1.1272.
  • GBPUSD


Update: the pair is still traded within the ascending channel shown on the chart, we remain the same. The pair is traded right below the upside of the ascending channel shown on the chart above. This is actually a bearish sign. Therefore, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.2950 followed by 1.2900 during the day. This is conditioned by the continuation of trading below the upside of the ascending channel shown on the chart.


Resistance levels: Support levels: Recommended:
▪ 1.3100
▪-13000
▪ --		 ▪ 1.2850
▪ 1.2800
▪ --

We remain bearish as long as the pair is traded below the upside of the ascending channel.

  • GOLD


Update: the pair is still traded below the level of 1265 so we remain the same. The pair is traded right below a very strong resistance level that could be found around 1265. If the pair respects this level, then the pair may go down to reach the level of 1260 followed by 1255.


Resistance levels: Support levels: Recommended:
▪ 1265
▪ 1260
▪ 1270		 ▪ 1230
▪ 1220
▪ 1200

We remain bearish as long as the pair is traded below the level of 1265.
  • AUDUSD


Update: the pair is still traded above the level of 0.7450 which is a strong support level so we remain bullish. The pair managed to break through a very strong resistance level of 0.7450. Therefore, the pair may continue going up to reach the level of 0.7500 followed by 0.7600. This is conditioned by the continuation of trading above the level of 0.7450.


Resistance levels: Support levels: Recommended:
▪ 0.7500
▪ 0.7600
▪-0.7700		 ▪ 0.7450
▪ 0.7400
▪ 0.7300

We remain bullish as long as the pair is traded above the level of 0.7450.
  • GBPJPY


Update: the pair is still traded above the level of 143.20 so we remain the same. The pair is traded above a strong support level that can be found at 143.20. So, we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 144 followed by 145 during the day. On the other hand, if the level of 143 is breached, then the way would be open for the pair to reach the level of 142 followed by 141.


Resistance levels: Support levels: Recommended:
▪ 144
▪ 145
▪ 146

▪ 142
▪ 141
▪ 140

We remain bullish as long as the pair is traded above the level of 143.20.