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Market Research & Info

Land-FX 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 June 2018

powered by Land-FX

Canadian jobs report Friday, 12:30. Canada’s labor market report will be in the limelight, having an exclusive influence on USD/CAD as the US Non-Farm Payrolls report has already been published. Back in April, Canada lost 1,100 jobs, a disappointing outcome. A bounce back is likely now. The unemployment remained at 5.8% for the third month in a row.

 

CAD
Canadian jobs report

 

  • EURUSD

 

Update: The first target was hit. As we mentioned last week that the pair has been traded above an uptrend line. Now we can say that it has showed up some bullish evidence which means that we can go long targeting the level of 1.18 followed by 1.19 during the week. This is conditioned by the continuation of trading above the uptrend line.

 

Resistance levels: Support levels: Recommended:
 1.21
1.20
▪ --
▪ 1.17
 1.1650
 1.1600

We are bullish as long as the pair is traded above the uptrend line.

  • GBPUSD

 

Update: The first target was hit – We remain bullish. We mentioned last week that the pair has been traded above an uptrend line. This week the pair also continues to be traded above it so we remain bullish as long as the pair is traded above the uptrend line. This is conditioned by the continuation of trading above the uptrend line. Our targets: 1.34 – 1.35 – 1.36.

 

Resistance levels: Support levels: Recommended:
▪ 1.36
 1.35
▪ 1.34
▪ 1.3200
 1.3150
 1.3000

We are bullish as long as the pair is traded above the up trendline.

  • GOLD

 

Update: A very tight movements – We remain the same. Having the pair traded above the uptrend line, opens the door for further upward movements during the week that it may reach the level of 1300 followed by 1310. This is conditioned by the continuation of trading above the uptrend line along with the level of 1270.

 

Resistance levels: Support levels: Recommended:
 1330
 1320
 --
 1280
 1275
 1270

We are bullish as long as the pair is traded above the level of 1270.

  • AUDUSD

 

Update: We remain the same - On its way to its first target. Having the pair traded above the uptrend line, opens the door for further upward movements during the week that it may reach the level of 0.77 followed by 0.78.

 

Resistance levels: Support levels: Recommended:

▪ 0.7550
0.7600
▪ --

▪ 0.7370
▪ 0.7300
▪ 

We are bullish as long as the pair is traded above the uptrend line.

  • GBPJPY

 

Update: The upside has not broken yet - if the upside of the channel is broken, then the way would be open for the pair to reach the level of 150. As could be seen on the daily chart that the pair is traded within a descending channel shown in black in the chart. The pair is traded at the moment above the downside of the channel so this means that we can go long targeting the level of 150 during the week. This is conditioned by the continuation of trading above the downside of the descending channel.

 

Resistance levels: Support levels: Recommended:
156
 155
 150.50

144.50
 144
 143

We are bullish as long as the pair is traded above the downside of the bearish channel.

 

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