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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

12 July 2018

powered by Land Prime

ECB Meeting Minutes: Thursday, 11:30. The European Central Bank made big announcements in its June decision and the policy accounts will reveal more data about the deliberations behind the scenes. The ECB laid out its plan to reduce bond-buying to €15 billion in Q4 2018 and end QE altogether from 2019. However, they also pledged to leave interest rates at current levels through the summer of 2019 and President Mario Draghi stressed the conditionality attached to any changes in the policy. It will be interesting to see how wide Draghi’s backing and the strength of the hawkish camp was led by Bundesbank President Jens Weidman. The document may also contain hints about further action. Trade concerns may also be of interest after reports stating that the ECB is worried about the implications of trade disputes on the economy.

US CPI: Thursday, 12:30. Consumer prices are gradually accelerating, with Core CPI reaching 2.2% y/y in May. Both headline and core CPI figures increased by 0.2% back then. The data for June will show if core prices continue picking up or if we see a setback after the acceleration. Both headline and core CPI are expected to rise by 0.2% m/m.

 

USD
US CPI

EUR
ECB Meeting Minutes

 

  • EURUSD

 

Update: Today's candle was bearish but we remain bullish. Since the pair is traded above the uptrend line for more than a year, this indicates that we might see more bullish movement on the long term during which we can witness some downwards movements. The expected scenario for this week is as follows: as long as the pair is traded above the uptrend line along with the level of 1.15 this opens the door for further upward movements during the week that it may reach the level of 1.19 followed by 1.2.

 

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: A little bearish but we remain bullish. A few weeks ago, the pair tried to breakthrough the uptrend line shown on the chart in red, but it failed to breach it. This indicates that the pair tends to be traded positively which can open the door for further upward movements during the upcoming weeks. The expected scenario: We are bullish as long as the pair is traded above the uptrend line along with the level of 1.3050. Our targets: 1.33 followed by 1.34.

 

Resistance levels: Support levels: Recommended:
▪ 1.36
▪ 1.35
▪ 1.34		 ▪ 
▪ 1.3150
▪ 1.3050

We are bullish as long as the pair is traded above the level of 1.3050.

  • GOLD

 

Update: The pair is about to reach the level of $1235. As could be seen on the daily chart that the pair is about to reach a strong support level that could be found at $1235 so we will be waiting for the pair to show up some positive evidence than we can go long targeting the level of 1250 during the week. On the other hand, breaching the level of 1235 can open the door for further downward movement during the week that it may reach the level of 1220 followed by 1210.

 

Resistance levels: Support levels: Recommended:
▪ 1330
▪ 1320
▪ --		 ▪ 1235
▪ 1220
▪ 1210

We are bullish as long as the pair is traded above the level of 1235.

  • AUDUSD

 

Update: The pair is still traded above the uptrend line. As could be seen on the daily chart that the pair is traded above an uptrend line shown on the chart in red. So we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 0.7540 during the week.

 

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 pair is about to reach its first target at 149. The pair is traded within an ascending channel that we can see on the daily chart. Th pair is traded right above the downside of the channel so this suggests more upward movements during the week conditioned by the continuation of trading above the downside of the channel. Our targets: 149 followed by 150.

 

Resistance levels: Support levels: Recommended:
▪ 156
▪ 155
▪ 150.50

▪ 144
▪ 144
▪ 143

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

 

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