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

19 February 2018

powered by Land Prime

 

 

The greenback suffered a bad start to the year: poor growth and scandals hurt the US dollar. Hopes for fiscal stimulus faded with the repeated failures to repeal Obamacare. Despite two rate hikes in the first half, the dollar struggled. Other economies outperformed America.

The second half already looks a lot different: economic growth reached 3% annualized and the Fed seems to stick to its plan to hike rates three times. In addition, Trump’s tax plan inspires markets, despite hurdles to pass it before Christmas.

Headwinds come from the political scandals. Low inflation also weighs on the dollar. If the “mystery” persists and wages do not accelerate, Janet Yellen and co. could refrain from further tightening. The new Fed Chair Jerome Powell will take office in February 2018, and he may not stick to the current plan of raising rates three times.

USD

 

  • EURUSD

 

As could be seen on the daily chart that the pair is traded below a strong resistance level that is 1.2530. Therefore, we are bearish as long as the pair is traded below it that it may reach the level of 1.2250 during the week.

 

Resistance levels: Support levels: Recommended:
 1.2530
▪ --
▪ --
▪ 1.21
 1.1600
 1.1550

We are bearish as long as the pair is traded below the level of 1.2530.

  • GBPUSD

 

As could be seen on the daily chart that the pair is traded in nowhere to enter the market. So, we will be waiting for the pair to reach the level of 1.4270 (this is where we can go short) or 1.3770 (where we can go long). No trading is recommended till the pair reaches on of these levels.

 

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

Waiting for the pair to reach on of the levels mentioned in the report.

  • GOLD

 

As could be seen on the daily chart that the pair is traded below a strong resistance level that is 1360. So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1330 during the week.

 

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

We remain bearish as long as the pair is traded below the level of 1360.

  • AUDUSD

 

As could be seen on the daily chart that the pair is traded above a strong support level that could be found at 0.7850. 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. On the other hand, breaching the level of 0.7850 can open the door for further downward movement during the week.

 

Resistance levels: Support levels: Recommended:

▪ 0.8000
0.7900
▪ --

▪ 0.7737
▪ 0.7600
▪ 0.7500

We are bullish as long as the pair is traded above the level of 0.7850.

  • GBPJPY

 

As could be seen on the char above that the pair is traded within an ascending channel. It is traded right above the downside of the channel so we can go long targeting the level of 152 during the week. On the other hand, breaching the downside of the ascending channel can open the door for further downward movement during the week.

 

Resistance levels: Support levels: Recommended:
156
 155

148
 147

We remain bullish as long as the pair is traded above the downside 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.