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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

17 January 2018

powered by Land Prime

 

 

UK inflation report:  Tuesday, 9:30. Britain stands out among developed countries by suffering from elevated inflation. Year over year CPI surpassed the 3% threshold in the reading for November, above the 1-3% range. Rising inflation has already triggered a rate hike in November, but the BOE seems reluctant to make additional tightening given the uncertainty resulting from Brexit and the slowing economy. Another rise in this important report that concludes 2017 may force the BOE to rethink. A small drop to 3% is expected.

Empire State Manufacturing Index: Tuesday, 13:30. This is an early report about the manufacturing sector, for the month of January 2018. In many cases, the publication is overshadowed by other indicators, but this time, it has its own space. The score slipped to 18 points in December after reaching much higher levels beforehand. A level of 18.5 is predicted.

USD
Empire State Manufacturing Index

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UK inflation report

 

  • EURUSD

 

The pair managed to break a strong resistance level that can be found at 1.21 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1.24 followed by 1.25 during the week. This is conditioned by the continuation of trading above the level of 1.21.

 

Resistance levels: Support levels: Recommended:
1.25
1.24
1.23
1.21
 1.1600
 1.1550

We are bullish as long as the pair is traded above the level of 1.21.

  • GBPUSD

 

As could on the daily chart that the pair is traded above a strong support level that could be found at 1.3650 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1.40 during the week. This is conditioned by the continuation of trading above the level of 1.3650.

 

Resistance levels: Support levels: Recommended:
1.40
 1.39
 1.3800
1.3650
 1.3250
 1.3200

We remain bullish as long as the pair is traded above the level of 1.3650.

  • GOLD

 

The pair managed to break the level of 1330 so it may continue going up to reach the level of 1350. We do not recommend going long now, but we would wait for the pair to reach the level of 1350 this is where we can go short targeting the level of 1330 followed by 1320.

 

Resistance levels: Support levels: Recommended:
 1350

 1330
 1240
 1210

Waiting for the pair to reach the level of 1350.

  • AUDUSD

 

As could be seen on the daily chart that the pair managed to break the level of 0.7900 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 0.8000 during the week. This is conditioned by the continuation of trading above the level of 0.7900.

 

Resistance levels: Support levels: Recommended:

0.8100
0.8060
● 0.7810

 0.7740
 0.7500
 0.7500

We are bullish as long as the pair is traded above the level of 0.7900

  • GBPJPY

 

The pair is still traded within the ascending channel. The pair also 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

Waiting for the pair to reach the 50 ema.


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