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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

16 October 2018

powered by Land Prime

UK jobs report: Tuesday, 8:30. Britain enjoys an unemployment rate of only 4% as of July, and this is expected to remain unchanged. However, wage growth is not going anywhere fast and competes with inflation. An increase was seen in July and the same level is on the cards for August. The Claimant Count Change for August showed an increase of 8.7K. The fresh figure for September is forecast to show a more modest increase of 4.5K. A higher rise in jobless claims could be worrying.

GBP
UK jobs report

  • EURUSD

 

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. We believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.1315 during the week. This is conditioned by the continuation of trading below the down trendline.

 

Resistance levels: Support levels: Recommended:
▪ 1.21
▪ 1.1850
▪ 1.18		 ▪ -
▪ 1.13
▪ 1.1250

We are bearish as long as the pair is traded below the down trendline.
  • GBPUSD

 

As could be seen on the daily chart that the pair is traded below a strong resistance level that is 1.3350 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.30. So we will be waiting for the pair is reach the area located between 1.33 – 1.3350. Our first target is 1.30.

 

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

 

The four-hour chart shows that the pair is traded below a strong resistance level that is 1235. So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1215 during the week. This is conditioned by the continuation of trading below the level of 1235.

 

Resistance levels: Support levels: Recommended:
▪ 1330
▪ 1235
▪ -		 ▪ 
▪ 1180
▪ 1170

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

  • AUDUSD

 

The daily chart shows that the pair is traded below a strong resistance level that is the down trend line shown on the chart in blue. We will be waiting for the pair to reach the down trendline and in case it shows up some bearish evidence, we can go short targeting the level of 0.70 during the week.

 

Resistance levels: Support levels: Recommended:

▪ 0.7550
▪ 0.7600
▪ 0.7260

▪ 0.7000
▪ -
▪ -

Waiting for the pair to reach the downtrend line.

  • GBPJPY

 

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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