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

02 March 2018

powered by Land Prime

UK PM May talks: Friday. The Prime Minister of the UK is set to deliver a keynote speech about the future trade relations that her government wishes to have with the European Union. Markets would prefer a continued membership in the Single Market and the Customs Union, but the hard-Brexiteers would prefer a looser relationship. The speech should help clarify the direction of the government. The pound will not only move on the speech but also on the reaction by the European Union. A warm welcome would be positive while a rejection of May’s proposals would weigh on the pound.

Canadian GDP: Friday, 13:30. Canada releases its GDP figures once a month, and this time, the figures are for December, concluding the last quarter and the full year. After a monthly growth rate of 0.4% in November, a more modest rise of 0.1% is on the cards.

GBP
UK PM May talks

CAD
Canadian GDP

  • EURUSD

 

Update: The pair rebounded successfully around the level of 1.21 so we remain the same. As could be seen on the daily chart that the pair is traded above a strong support level that is 1.21. Therefore, we are bullish as long as the pair is traded above it that it may reach the level of 1.25 during the week.

 

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

We are long as long as the pair is traded above the level of 1.21.

  • GBPUSD

 

Update: The EMA has been broken so if today's close is below it then the breakout is confirmed. As could be seen on the daily chart that the pair is traded right above a strong support level that is the EMA of 50 (D). So, we are bullish as long as the pair is traded above it that it may reach the level of 1.41 followed by 1.42 during the week.

 

Resistance levels: Support levels: Recommended:
▪ 1.4200
▪ 1.4100
▪ --		 ▪ 1.3800
▪ 1.3700
▪ 1.3600

We are bullish as long as the pair is traded above the level EMA/50/D

  • GOLD

 

Update: Still traded above the level of 1320. As could be seen on the daily chart that the pair is traded above a strong support level that is 1320. So, we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1350 during the week.

 

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

We remain bullish as long as the pair is traded above the level of 1320.

  • AUDUSD

 

Update: The weekly target was hit. Congratulations on this. As could be seen on the daily chart that the pair is traded below a strong resistance level that could be found at 0.79. So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 0.7700 during the week. On the other hand, breaching the level of 0.79 can open the door for further upward movement during the week.

 

Resistance levels: Support levels: Recommended:

▪ 0.8000
▪ 0.7900
▪ --

 ▪ 0.7700
▪ 0.7600
▪ 0.7500

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

  • GBPJPY

 

Update: The downside was broken so the movement of the pair this week was very bearish. 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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