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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

12 January 2018

powered by Land Prime

 

 

US CPI: Friday, 13:30. The Fed is puzzled with low inflation. With upbeat GDP growth and a robust rise in employment, the economic models point to higher prices. Yet this isn’t happening and it may slow down the Fed’s pace of raising rates. In November, headline CPI inflation rose by 0.4% but core CPI disappointed with only 0.1% and not for the first time. We will now get the last report for 2017 and if core CPI remains stuck, incoming Fed Chair Jay Powell will have a rough start to his tenure. Both headline and core CPI are expected to rise by 0.2% this time.

US Retail Sales: Friday, 13:30. The American economy is focused on consumption, making this report a top-tier one. While inflation is gaining in importance, retail sales will still move markets despite being released at the same time. Back in November, the volume of sales increased by 0.8% while core sales jumped by 1%. Have Americans been doing a lot of Christmas shopping? Headline retail sales are predicted to rise by 0.5% while core sales carry expectations for +0.4%.

USD
US  CPI
US Retail Sales

 

  • EURUSD

 

Update: The pair successfully rebounded around the uptrend line. In case the level of 1.2100 is broken, the way would be open for the pair to reach the level of 1.2200. The pair is traded below a strong resistance level that is 1.2100 and it is on its way to reach the uptrend line shown on the chart in blue. So, we will be waiting for the pair to reach the uptrend line then after reaching it, we will need to keep an eye on the behavior of the price so in case it shows some positive factors above it, we can go long.

 

Resistance levels: Support levels: Recommended:
▪ 1.2300
▪ 1.2200
▪ 1.2100		 ▪ 1.1670
▪ 1.1600
▪ 1.1550

Waiting for the pair to reach the uptrend line
  • GBPUSD

 

Update: The pair is traded in a very tight range. As could on the daily chart that the pair is traded below a strong resistance level that is 1.3650 in a range that is very tight so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.3400 during the week. This is conditioned by the continuation of trading below the level of 1.3650.

 

Resistance levels: Support levels: Recommended:
▪ 1.3650

 ▪ 1.3400
▪ 1.3250
▪ 1.3200

We remain bearish as long as the pair is traded below the level of 1.3650.
  • GOLD

 

Update: The pair successfully reached the level of 1300 (our first target). As could be seen on the daily chart that the pair is traded below a strong resistance level that is 1325 so we believe that in case this level is broken, we can go long targeting the level of 1330 followed by 1335 during the week

 

Resistance levels: Support levels: Recommended:
▪ 1340
▪ 1330
▪ 1320

▪ 1250
▪ 1240
▪ 1210

We are bullish in case the level of 1325 is broken.
  • AUDUSD

 

Update: The pair started to break through the level of 0.7890, but is not confirmed yet. There is a potential that the pair is forming a head and shoulders pattern. The 2nd shoulder is being formed as we can see so this may help the used to gain value against the and then a pullback is expected from there so the pair can reach the neckline of the pattern.

 

Resistance levels: Support levels: Recommended:

▪ 0.8100
▪ 0.8060
▪ 0.7810

 ▪ 0.7740
▪ 0.7500

Waiting for the pair to reach the level of 0.7737.
  • GBPJPY

 

Update: Started going down as expected. As could be seen on the chart above that the pair is traded below a strong resistance level that is 153.37 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the 50 ema.

 

Resistance levels: Support levels: Recommended:
▪ 152.90
▪ 152

▪ 148
▪ 147

We remain bullish as long as the pair is traded above the 50 ema.

 

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