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

10 October 2018

powered by Land Prime

UK GDP: Wednesday, 8:30. This is a monthly GDP report for August, which provides more insights into Q3. The UK economy grew by 0.3% in July, the first month of Q3 and growth in August is projected to slow to 0.1%. Any slowdown may be attributed to worries about Brexit. The UK also publishes Manufacturing Production and the Goods Trade Balance at the same time.

US PPI: Wednesday, 12:30. The Producer Price Index disappointed in August with a drop of 0.1% on the headline and 0.1% also on core PPI. The underwhelming figures came after an extended period in which factory gate advances outpaced expectations. Both headline and Core PPI are expected to advance by 0.2% m/m.

GBP
UK GDP

USD
US PPI

  • EURUSD

 

Update: No changes. The daily timeframe shows that the pair is traded below a strong resistance level that is the downtrend line. On the one hand, there is no close entry point to enter the market now so it would be better for us to wait for the pair to reach the downtrend line then in case is shows up some bearish evidence, we can go short targeting the level of 1.15 during the week. On the other hand, if the support level of 1.1460 is broken, we can go short targeting the level of 1.13 during the week.

 

Resistance levels: Support levels: Recommended:
 1.21
1.1850
▪ 1.18
▪ -
 1.1450
 1.14

Waiting for the pair to confirm its next move.

  • GBPUSD

 

Update: On its way to the level of 1.33. The daily timeframe shows that there is no place to enter the market now. We believe that it is better to wait for the pair to reach the resistance level of 1.33 which is where we can go short. So, let's wait and update the scenario as the pair moves.

 

Resistance levels: Support levels: Recommended:
▪ 1.36
 1.3350
▪ 1.33
▪ -
 1.2650
 1.2550

We are bearish as long as the pair is traded below the level of 1.33.

  • GOLD

 

Update: The support level of 1180 is not broken yet. As could be seen on the chart above that the pair is traded above a strong support level (1180). Since we are in a downtrend, it would be better for us to wait for the pair to break the support level of 1180 so we can go short targeting the level of 1170 during the week.

 

Resistance levels: Support levels: Recommended:
 1330
 1320
 1220
 
 1180
 1170

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

  • AUDUSD

 

Update: No changes. As could be seen on the daily chart that the pair is traded below a strong resistance level that is the down trendline shown on the chart in blue. Therefore, we are bearish as long as the pair is traded below the trendline. Our first target is 0.7000.

 

Resistance levels: Support levels: Recommended:

▪ 0.7550
0.7600
▪ 0.
7260

▪ 0.7000
-
▪ -

Waiting for the pair to reach the downtrend line.

  • GBPJPY

 

Update: Still traded below the resistance level of 149.30. As could be seen on the chart above that the pair is traded below a strong resistance level that is 149.30 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 146 during the week. This is conditioned by the continuation of trading below the resistance level of 149.30.

 

Resistance levels: Support levels: Recommended:
156
 155
 149

 --
145
 140

We are bearish as long as the pair is traded below the level of 149.30.

 

 

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