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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

14 August 2018

powered by Land Prime

German GDP: Tuesday, 6:00. While we have already received a preliminary estimate of the full euro-zone GDP, we still haven’t heard from the largest country and this happens now.  Europe’s largest economy grew by a relatively disappointing pace of 0.3% q/q in the first quarter of the year after a robust 2017. A slightly higher growth rate of 0.4% is on the cards now.

 

UK jobs report Tuesday, 8:30. The UK enjoys a low unemployment rate which stood at 4.2% in May but wages are not rising at a satisfactory pace: only 2.5% in May, barely above inflation. The Average Earnings Index is the focus of the report. Both figures are expected to remain unchanged. The change in jobless claims, known in the UK as the Claimant Count Change, rose by a disappointing 7.8K in June. We will now get the fresh figures for July.

 

GBP
UK jobs report Tuesday

EUR
German GDP

  • EURUSD

 

The pair managed to break through the downside of the symmetrical triangle shown on the chart. Also, the level of 1.1515 was broken which opens the door for further downward movement during the week that is can reach the level of 1.1315. This is conditioned by the continuation of trading below the level of 1.1515.

 

Resistance levels: Support levels: Recommended:
▪ 1.21
▪ 1.20
▪ --		 ▪ 1.1315
▪ 1.13
▪ 1.1250

We are bearish as long as the pair is traded below the level of 1.1515.

  • GBPUSD

 

The pair managed to break through the downside of the downward channel shown on the chart above. Since the pair is traded below it, we can go short targeting the level of 1.26 followed by 1.2550. This is conditioned by the continuation of trading below the downside of the channel. 

 

Resistance levels: Support levels: Recommended:
▪ 1.36
▪ 1.35
▪ 1.34		 ▪ 
▪ 1.26
▪ 1.2550

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

  • GOLD

 

The pair is traded below a strong support level that is shown on the chart in blue. There is no way to enter the market now so we will wait for the pair to reach the downtrend line then we can go short in case is shows up some bearish evidence.

 

Resistance levels: Support levels: Recommended:
▪ 1330
▪ 1320
▪ 1235		 ▪ --
▪ --
▪ 1200

We are bearish as long as the pair is traded below the level of 1218.

  • AUDUSD

 

On the chart above we can find a very tight range between the level of 0.7460 (resistance) and 0.7310 (was a support level). The support level was broken and as a result the pair might continue going down to reach the support level of 0.7160. This is conditioned by the continuation of trading below the level of 0.7310 targeting the level of 0.7160.

 

Resistance levels: Support levels: Recommended:

▪ 0.7550
▪ 0.7600
▪ 0.7480

 ▪ 0.7160
▪ 0.71
▪ 

We are bearish as long as the pair is traded below the level of 0.7160.

  • GBPJPY

 

As could be seen on the daily chart that the pair is traded within a downward channel. The pair now is traded right above the downside so if the pair shows up some bullish evidence, we can go long targeting the level of 143.

 

Resistance levels: Support levels: Recommended:
▪ 156
▪ 155
▪ 146

▪ --
▪ --
▪ 140

We are bullish as long as the pair is traded above the level of 140.

 

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