News & Research

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

20 September 2018

powered by Land Prime

Swiss rate decision: Thursday, 7:30. The Swiss National Bank has kept its policy unchanged since the unforgettable day it removed the peg under EUR/CHF, January 15th, 2015. Since then, it maintains the Libor Rate at -0.75%, deep into negative territory. It also pledged to intervene as needed to weaken the franc. With EUR/CHF recently nearing and touching the 1.20 level, the SNB has not been active in FX for quite some time. They are not expected to change their policy in the upcoming meeting. However, they may begin talking about an exit plan from the negative interest rate, a move that could boost the value of the CHF.

US Existing Home Sales: Thursday, 14:00. Housing was relegated to the backbenches of economic indicators but could make a comeback. Existing Home Sales dropped in the past four months, a phenomenon not seen since 2013. After hitting 5.34 million in July, another drop in August would be worrying. A small increase to 5.39 million is projected.

 

USD
US Existing Home Sales

CHF
Swiss rate decision

  • EURUSD

 

Update: The pair is about to break the neckline of the pattern. Not confirmed yet. As we mentioned last week that the pair formed a head and shoulders pattern. The second was perfectly formed. We will wait for the pair to break the neck-line of the pattern. It will be confirmed with a daily close above the neck-line. In case the neck-line is broken, it is expected that the pair might continue going up to reach the level of 1.1850.

 

Resistance levels: Support levels: Recommended:
▪ 1.21
▪ 1.1850
▪ 1.1780		 ▪ 1.15
▪ 1.1450
▪ 1.14

Waiting for the pair to break the neck-line of the head and shoulders pattern.
  • GBPUSD

 

Update: The pair broke the resistance level of 1.32. But still traded below the level of 1.3310 which is a strong Fibonacci level (0.386). The daily chart shows that the pair is traded below a strong resistance that is 1.32. In case the pair shows up some bearish evidence below it, we can go short targeting the level of 1.28 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
▪ 1.31		 ▪ 
▪ 1.2650
▪ 1.2550

Looking for some new evidence.

  • GOLD

 

Update: The pair is traded in a very tight rang. As we mentioned last week that the pair has been traded below a strong resistance level that is 1218 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 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: The pair is about to reach the downtrend line shown on the chart in blue. As could be seen on the four hours chart that the pair is on its way to reach the down trendline shown on the chart in blue. If the pair reaches the downtrend line and shows up some bearish evidence, we can go short targeting the level of 0.71. In case the downtrend line is broken, then there will be another scenario.

 

Resistance levels: Support levels: Recommended:

▪ 0.7550
▪ 0.7600
▪ 0.7260

 ▪ 0.7160
▪ 0.71
▪ 

Waiting for the pair to reach the downtrend line.

  • GBPJPY

 

Update: First target was hit. In case it is broken, we can go long again but not in Fridays. As could be seen on the daily chart that the pair managed to break the upside of the descending channel shown on the chart. Therefore, we are bullish as long as the pair is traded above the broken upside along with the support level of 146. First target is 149. Conditioned by the continuation of trading above the level of 146.

 

Resistance levels: Support levels: Recommended:
▪ 156
▪ 155
▪ 149

▪ --
▪ 145
▪ 140

We are bullish as long as the pair is traded above the upside of the pattern.

 

 

Disclaimer: The information contained in this publication is produced by Land Prime and not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects Land Prime current judgment and may change without notice. This message is for information purposes only and is not intended as an offer, recommendation or solicitation to buy or sell, nor is it an official confirmation of terms. No representation or warranty is made that this information is complete or accurate. Any views or opinions expressed do not necessarily represent that Land Prime. This email and the information it contains may be confidential, proprietary or legally privileged. You must not, directly or indirectly, use, disclose, distribute, copy or store this message or any part of it if you are not the intended recipient. Unless otherwise stated, any pricing information given in this email is indicative only, is subject to changes and does not constitute an offer to deal at any price quoted.