News & Research

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

18 January 2018

powered by Land Prime

 

 

Australian jobs report: Thursday, 00:30. Australia enjoyed an excellent gain in jobs in November: 61.6K, a big jump after a very modest rise in October. The unemployment rate remained at 5.4%, pausing after two consecutive drops. Another gain is likely for the month of December. A modest gain of 15.2K jobs is on the cards. The unemployment rate carries expectations for remaining at 5.4%.

Chinese GDP: Thursday, 2:00. China is the world’s second-largest economy and the development of its economic growth impacts the whole world. Back in Q3, the Middle Kingdom grew 6.8% y/y, in line with the government’s wishes and market expectations. While many doubt the numbers, released relatively shortly after the quarter ends and with no revisions, the publication is watched by the whole world. Note that China also releases other data with industrial output standing out. A minor slide to 6.7% is forecast.

US housing data: Thursday, 13:30. Both building permits and housing starts stood an annualized level of 1.3 million in November, both beating expectations and reaching new highs. The positive data helped the greenback at the time. Things are not always this way: at times, one figure came out above predictions while the other disappointed, making no market impact. Will we see new highs now? If the figures offset each other, the dollar could move by the other two noteworthy numbers released at the same time: jobless claims and the Philly Fed manufacturing index, but the housing indicators are of higher importance. Building permits are projected to slide to 1.29 million while housing starts are predicted to drop to 1.27 million units annualized.

Crude Oil Inventories: Thursday, 16:00. Inventories of crude oil have been falling in the past 8 weeks, contributing to the rise in oil prices, even as distillates have not always seen a drawdown. With the prices of black gold hitting new highs, this release is important not only for loonie traders but also for the US dollar: there is often an inverse correlation between oil prices and the greenback.

AUD
Australian jobs report

USD
US housing data
Crude Oil Inventories

 

  • EURUSD

 

Update: The pair is still traded above the level of 1.2100. 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

 

Update: The pair is still traded above the level of 1.3650. 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

 

Update: We remain the same. 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

 

Update: The pair is about to reach the level of 0.8060. 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

▪ 0.7900
▪ 0.7740
▪ 0.7500

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

  • GBPJPY

 

Update: Will it continue going up to reach the upside of the ascending channel? In case the pair reaches this level, we can go short targeting the level of 150. 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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