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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

25 July 2018

powered by Land Prime

Australian CPI: Wednesday, 1:30. Contrary to most other countries, Australia publishes inflation data only once per quarter. The pace of price rises slowed down to 0.4% q/q in the first quarter of 2018. Core inflation, known in Australia as Trimmed Mean CPI, advanced by 0.5%, faster than previously. We will now get the fresh data for Q2 2018. The publication impacts the Reserve Bank of Australia which has not changed interest rates in nearly two years. Both figures are projected to rise by 0.5%.

 

US New Home Sales: Wednesday, 14:00. Sales of new homes trigger a broad range of economic activities, such as infrastructure spending. The report for May surprised on the upside by advancing to 689K annualized sales. The high levels are expected to be maintained in the figures for June.

 

AUD
Australian CPI

USD
US New Home Sales

  • EURUSD

 

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 in red. Also, the last part of the chart shows that the pair is ranging between two strong levels: 1.1846 (resistance) and 1.1530 (support). The expected scenario of the week is that as long as the pair is traded above the support mentioned above along with the uptrend line, it is highly recommended to go long targeting the level of 1.1846 during the week. On the other hand, breaching the level of 1.1530 along with the uptrend line can open the door for further downward movement during the week that it may reach the level of 1.13.

 

Resistance levels: Support levels: Recommended:
▪ 1.21
▪ 1.20
▪ --		 ▪ 1.17
▪ 1.1530
▪ 1.15

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

  • GBPUSD

 

Update: The pair is traded right below the broken uptrend line, keep an eye on it. The daily chart shows very strong levels that may help the GBP to gain value against the American dollar. To begin with, the golden Fibonacci level of 0.618 (1.29) of the wave that started in the 16th of Jan 2017 which has extended upwards to the level of 1.4378 (in the 16th of April 2018), acts as a strong support level which in turn will push the price to retest the broken uptrend line (in red). So, the pair might find a strong resistance at 1.32. Therefore, we believe that as long as the pair is traded above the support level mentioned above, it is highly recommended to go long targeting the level of 1.32 during the week.

 

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 1.29.

  • GOLD

 

Update: The pair is showing up some bearish evidence which support the negative scenario. As could be seen on the 4h timeframe that the pair is traded right below two strong resistance levels: 1235 and the downtrend line shown on the chart in red. So, we believe that as long as the pair is traded below them, it is highly recommended to go short targeting the level of 1210 during the week.

 

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

We are bearish as long as the pair is traded below the level of 1235.

  • AUDUSD

 

Update: On its way to its first target. The daily timeframe shows that the pair is traded above a strong support level that could be found at 0.73. So, we believe that as long as the pair is traded above this level, it is highly recommended to go long targeting the level of 0.74 during the week.

 

Resistance levels: Support levels: Recommended:

▪ 0.7550
▪ 0.7600
▪ --

 ▪ 0.7300
▪ 0.7100
▪ 

We are bullish as long as the pair is traded above the uptrend line along with the level of 0.73.

  • GBPJPY

 

Update: We remain the same. As could be seen on the daily chart that the pair is traded within an ascending channel and right above the downside of it which is very positive for the pair. We believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 151 during the week. This is conditioned by the continuation of trading above the downside of the channel.

 

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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