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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

09 November 2018

powered by Land-FX

UK GDP: Friday, 9:30. The UK moved to publish GDP data on a monthly basis, but this publication is not only for September but for all of the third quarter. The economy grew by 0.4% q/q in the second quarter. So far in Q3, the British economy expanded by 0.4% in July but stagnated in August. A similar growth rate of 0.4% q/q is likely for Q3. Uncertainty about the future weighs. A rise of 0.6% q/q is forecast.

US PPI: Friday, 13:30. The Producer Price Index serves as a warm up to the Consumer Price Index in the following week. Back in September, PPI and also Core PPI rose by 0.2% month over month, a steady rate and lower than a few months earlier. PPI is predicted to rise by 0.3% and core PPI by 0.2%.

US Consumer Sentiment: Friday, 15:00. The University of Michigan’s Consumer Sentiment gauge has been more nuanced than the Conference Board’s measure, which has reached record highs in recent months. The final score for September stood at 98.6 points in the final read. We will now get the preliminary number for November.

GBP
UK GDP

USD
US PPI
US Consumer Sentiment

  • EURUSD

 

Update: The pair went down again to where we started. As could be seen on the daily chart that the pair is traded above a strong support level that is 1.13 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1.16 during the week. This is conditioned by the continuation of trading above the support level of 1.13.

 

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

We are bullish as long as the pair is traded above the level of 1.1300

  • GBPUSD

 

Update: Did not reach the level of 1.33. The daily chart shows that the pair is on its way to reach a strong resistance level that is 1.33 which is where we can go short. So, we will be waiting for the pair to reach that level, then in case it shows up some bearish evidence, we can go short targeting the level of 1.30 during the week.

 

Resistance levels: Support levels: Recommended:
▪ 1.36
 1.3350
▪ 1.29
 1.2679
 1.2650
 1.2550

Waiting for the pair to reach the level of 1.33

  • GOLD

 

Update: Target was hit. The 4hours timeframe shows that the pair has reach as strong resistance level that is 1240. So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1220 during the week. This is conditioned by the continuation of trading below the resistance level of 1240. 

 

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

We are bearish as long as the pair is traded below the level of 1240.

  • AUDUSD

 

Update: Target was hit. As could be seen on the daily chart that the pair managed to break the downtrend line shown on the chart in blue. So, we believe that as long as the pair is traded above the broken downtrend lone along with the support level of 0.7160, it is highly recommended to go long targeting the level of 0.73 during the week.

 

Resistance levels: Support levels: Recommended:

▪ 0.7550
0.7600
▪ 0.
7260

▪ 0.7000
-
▪ -

We are bullish as long as the pair is traded above the broken downtrend line.

  • GBPJPY

 

Update: Started going down as expected. As could be seen on the daily timeframe that the pair is about to reach a strong resistance level that is 150 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. So, we will be waiting for the pair to reach the resistance level of (149.60 – 150) then if it shows up some bearish evidence, we can go short targeting the level of 146 during the week.

 

Resistance levels: Support levels: Recommended:
156
 155
 149

 --
143.73
 140

We are bearish as long as the pair is traded below the level of 150.

 

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