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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

07 February 2018

powered by Land Prime

 

 

Bill Dudley talks: Wednesday, 13:30. The outgoing President of the New York Fed, a permanent voter on the FOMC, has been aligned with the central thinking of the Fed, especially with that of now-former Fed Chair Janet Yellen. He will speak at an event in New York and may comment on the jobs report as well as on the path of hikes for the Fed.

New Zealand rate decision: Wednesday, 20:00. The Reserve Bank of New Zealand is expected to leave the interest rate unchanged at 1.75%. That doesn’t mean no impact on markets. The central bank will have the chance to lay out its updated goals on monetary policy, react to the jobs report and perhaps talk down the currency. The press conference is scheduled for 21:00, an hour after the release and Governor Spencer will also address lawmakers at 00:00. It will certainly be a busy time for the NZD.

USD
Bill Dudley talks

NZD
New Zealand rate decision

  • EURUSD

 

The pair is traded below a strong resistance level that could be found at 1.2525 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.2100 during the week. This is conditioned by the continuation of trading below the level of 1.2525.

 

Resistance levels: Support levels: Recommended:
▪ 1.2525
▪ -
▪ -		 ▪ 1.21
▪ 1.1600
▪ 1.1550

We are bearish as long as the pair is traded below the level of 1.2525.
  • GBPUSD

 

As could be seen on the daily chart that the pair has formed a double top pattern and its confirmation line that could be found at 1.3970 is broken so this means that the pair may continue going down to reach the level of 1.3700 during the week. This is conditioned by the continuation of trading below the level of 1.3970.

 

Resistance levels: Support levels: Recommended:
▪ 1.4100
▪ 1.3970
▪ -		 ▪ 1.3800
▪ 1.3700
▪ 1.3600

We remain bearish as long as the pair is traded below the level of 1.3970.
  • GOLD

 

The pair managed to form a bearish candle (bearish engulfing) so it may continue going down to reach the level of 1310 during the week. This is conditioned by the continuation of trading below the level of 1350.

 

Resistance levels: Support levels: Recommended:
▪ 1350
▪ --
▪ --		 ▪ 1310
▪ 1300
▪ 1290

We remain bearish as long as the pair is traded below the level of 1350.
  • AUDUSD

 

As could be seen on the daily chart that the pair managed to break through a strong support level (resistance now) that is 0.7900 so it may continue going down to reach the level of 0.7737 during the week. This is conditioned by the continuation of trading below the level of 0.7900.

 

Resistance levels: Support levels: Recommended:

▪ 0.8000
▪ 0.7900
▪ --

 ▪ 0.7737
▪ 0.7600
▪ 0.7500

We are bearish as long as the pair is traded below the level of 0.7900.
  • GBPJPY

 

As could be seen on the daily chart that the pair is traded within an ascending channel and it successfully bounced around the upside of the pattern heading to the downside of the pattern. So, we are bearish as long as the pair is traded below the upside of the pattern.

 

Resistance levels: Support levels: Recommended:
▪ 156
▪ 155

▪ 148
▪ 147

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


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