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Market Research & Info

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

30 August 2018

powered by Land-FX

Canadian GDP: Thursday, 12:30. Canada publishes GDP growth figures every month rather than on a quarterly basis. However, this publication is for June, concluding the second quarter, making the release more significant than usual. Monthly GDP increased by 0.5% in May and will have likely somewhat slowed down in June.

 

US Core PCE Price Index: Thursday, 12:30. The Fed’s favorite inflation measure dropped from 2% to 1.9% in June despite an increase in the Core CPI. This time, the advance of Core CPI to 2.4% will likely push this measure, using a different methodology, to 2%.

 

USD
US Core PCE Price Index

CAD
Canadian GDP

  • EURUSD

 

Update: We remain the same. As could be seen on the daily chart that the pair is traded below a strong resistance level that is 1.1780 – 1.1850 so we will be waiting for the pair to reach these levels then in case it shows up some bearish evidence, we can go short targeting the level of 1.1618 during the week.

 

Resistance levels: Support levels: Recommended:
 1.21
1.1850
▪ 1.1780
▪ 1.1618
 1.16
 1.1250

Waiting for the pair to reach the resistance levels of 1.1780 – 1.1850

  • GBPUSD

 

As could be seen on the daily time frame that the pair is traded below a strong resistance level that is 1.32 so we will keep an eye on it that in case it shows up some bearish evidence we can go short targeting the level of 1.27 during the week. This is conditioned by the continuation of trading below the level of 1.32.

 

Resistance levels: Support levels: Recommended:
▪ 1.36
 1.35
▪ 1.30
▪ 
 1.27
 1.2550

We are bearish as long as the pair is traded below the level of 1.32.

  • GOLD

 

Update: We remain the same. The daily timeframe shows that the pair is traded below a strong resistance level (1220). So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1200 followed by 1190 during the week. This is conditioned by the continuation of trading below the level of 1220.

 

Resistance levels: Support levels: Recommended:
 1330
 1320
 1220
 1200
 1190
 1180

We are bearish as long as the pair is traded below the level of 1220.

  • AUDUSD

 

Update: Still traded below the downtrend line. As could be seen on the daily chart that the pair is traded below a downtrend line (shown on the chart in blue). So, we believe that as long as the pair is traded below it, it is highly recommended to go short. The expected road map is as follows: We would wait for the pair to reach the downtrend line, then it should show up some bearish evidence, in case this happens, we can go short from there targeting the level of 0.72 during the week. Conditioned by the continuation of trading below the downtrend line.

 

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 downtrend line.

  • GBPJPY

 

Update: On its way to the upside. As we mentioned before that the pair has been traded within a descending channel that we can see on the daily chart. Now the price is in the middle of the channel so the chances are: we would wait for the pair to reach either the upside of the channel (where we can go short) or the downside again (where we can go long.

 

Resistance levels: Support levels: Recommended:
156
 155
 146

 --
▪ --
 140

Waiting for the pair to reach one of the levels mentioned in the report.

 

 

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