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

08 February 2018

powered by Land Prime

 

 

UK rate decision: Thursday, 12:00. The Bank of England is expected to leave the interest rate unchanged at 0.50% after hiking it to this level in November. However, they will certainly move the market. In addition to the decision and the meeting minutes, the BOE will also publish the Quarterly Inflation Report, which contains a wider assessment of the economy and the path of inflation. This “Super Thursday” becomes even more “super” with the publication of the Inflation Letter. Governor Mark Carney is obliged to send an open letter to the Chancellor of the Exchequer Phillip Hammond and explain why inflation breached the 1-3% range. This happened for a short time and inflation is expected to fall. Nevertheless, the abundance of documents that the BOE releases should supply a lot of material to move markets. The initial response will likely come from the voting pattern. Any deviation from a unanimous vote to leave rates unchanged will stir the pound. Afterwards, the assessment of the economy and more importantly, inflation, will have its say.

GBP
UK rate decision

  • EURUSD

 

Update: we remain the same. 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

 

Update: we remain the same. 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

 

Update: the pair is about to reach the level of 1310. 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

 

Update: we remain the same. 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

 

Update: we remain the same. 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.


Disclaimer: The information contained in this publication is produced by Land Prime and not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects Land Prime current judgment and may change without notice. This message is for information purposes only and is not intended as an offer, recommendation or solicitation to buy or sell, nor is it an official confirmation of terms. No representation or warranty is made that this information is complete or accurate. Any views or opinions expressed do not necessarily represent that Land Prime. This email and the information it contains may be confidential, proprietary or legally privileged. You must not, directly or indirectly, use, disclose, distribute, copy or store this message or any part of it if you are not the intended recipient. Unless otherwise stated, any pricing information given in this email is indicative only, is subject to changes and does not constitute an offer to deal at any price quoted.