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

23 February 2018

powered by Land Prime

 

 

German Final GDP: Friday, 7:00. The final German GDP release is expected to confirm the previous read of 0.6% q/q growth. The locomotive of the euro-zone grew by an even faster clip in Q3: 0.8%.

Final CPI: Friday, 10:00. Headline inflation has been grinding lower, slipping to 1.3% in the preliminary read for January. However, core inflation enjoyed a small rise to 1% after a few months of disappointments. The final figures will likely confirm the initial ones.

USD

German Final GDP
FInal CPI


  • EURUSD

 

Update: The pair reached 1.2259 so it was about 10 pips away from our target. 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

 

Update: The pair did not move too much this week. 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

 

Update: First target was hit. Our 2nd target is 1320 >> our weekly targets were hit. congratulations on this. 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

 

Update: We remain the same. The level of 0.7850 was broken so the way is open for the pair to reach the level of 0.7750. 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

 

Update: The breakout of the downside of the channel is not confirmed yet. 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.


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