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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

17 October 2018

powered by Land Prime

UK inflation: Wednesday, 8:30. The UK’s Consumer Price Index rose by 2.7% YoY in August, showing increasing inflationary pressures and helping justify the Bank of England’s rate hike that month. A slower annual increase in prices is on the cards for September: 2.6%. The Retail Price Index (RPI) is projected to rise by 3.5%, repeating the same figure from the previous month. Core CPI is predicted to slow from 2.1% to 2.0% and PPI Input to rise by 0.9% MoM after an increase of 0.5% in August.

FOMC Meeting Minutes: Wednesday, 12:30. The Federal Reserve raised interest rates in September and signaled four more until the end of 2019. While they removed the words “accommodative policy”, Fed Chair Jerome Powell clarified that there is no change in policy. The meeting minutes from the event will shed some light on several important topics: do all members see the economy as doing very well? Are they concerned that inflation is not picking up? And about trade tariffs: is there a reason to be worried? The FOMC Minutes usually reveal more about the topic than the statement. It is important to note that the document is redacted until the very last moment in order to convey a message. A softer message may be seen now, after the stock market fall.

GBP
UK inflation

USD
FOMC Meeting Minutes

  • 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 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

 

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 1.3350 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

 

Update: No changes. 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

 

Update: On its way to the down trendline. 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

 

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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