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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

08 March 2018

powered by Land Prime

Euro-zone rate decision: Thursday, 12:45, press conference at 13:30. The European Central Bank will probably refrain from making an announcement on QE. The program runs through September, and they have time to announce the next steps. The economy is doing quite well but inflation is not going anywhere fast. This is the reality and the key message from Frankfurt for quite some time. However, ECB President Mario Draghi may certainly move markets, especially if they make minor tweaks to the announcement. They may move to a somewhat more hawkish stance by removing the wording about increasing the QE program if necessary but only lengthening it. That would be a hawkish move, but it may cause the euro to rise, something they do not wish to see.

EUR
Euro-zone rate decision

  • EURUSD

 

Update: However, today's candle has been very bearish, we are still bullish. 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 pair started going down. 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 within a descending channel. The pair is heading towards the upside of the channel. In case the pair shows some negative factors below it, we can go short targeting the downside of the channel.

 

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

We are bearish as long as the pair is traded below the downside of the descending channel.

  • GOLD

 

Update: Still waiting for the pair to reach the level of 1350; this is where we can go short. The pair is heading towards the level of 1350. We will be waiting for the pair to be traded between the level of 1350 and 1365 and in case it shows some negative factors there, we can go short targeting the level of 1310 during the week.

 

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

We are bearish as long as the pair is traded below the level of 1365.

  • AUDUSD

 

Update: Waiting for the pair to reach the level of 0.79. As could be seen on the daily chart that the pair is heading towards the level of 0.7900. This is where we can go short that in case the pair shows some negative factors, we can go short targeting the level of 0.7800 followed by 0.7750 during the week. On the other hand, breaching the level of 0.79 can open the door for further upward movement during the week that it may reach the level of 0.80 followed by 0.8050 during the week.

 

Resistance levels: Support levels: Recommended:

▪ 0.8000
0.7900
▪ --

▪ 0.7700
▪ 0.7600
▪ 0.7500

Waiting for the pair to reach the level of 0.79.

  • GBPJPY

 

Update: We remain the same. The pair successfully rebounded around the level of 145 and it is heading towards the broken downside of the ascending channel shown on the chart.

 

Resistance levels: Support levels: Recommended:
156
 155

147
 146

The pair is heading towards the broken downside of the broken channel.

 

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