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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

13 November 2018

powered by Land-FX

UK jobs report Tuesday, 9:30. Britain enjoyed an acceleration in wage growth back in August: 2.7% y/y. Salaries have the most significant impact in the UK employment report as the unemployment rate is at a low of 4% as of September. Wages carry expectations for an acceleration to 3% y/y while no change is forecast in the jobless rate. The Claimant Count Change, or jobless claims, rose by 18.5K in September, a disappointment. A more moderate rise of 4.3K is projected for October.

Japanese GDP: Tuesday, 23:50. Japan enjoyed a growth rate of 0.7% q/q in Q2 2018 according to the final read. The upbeat growth rate comes hand in hand with a low unemployment rate but inflation is not picking up to the frustration of the Bank of Japan. The preliminary figure for Q3 is released now. A drop of 0.2% is projected.

GBP
UK jobs report

JPY
Japanese GDP

  • EURUSD

 

The daily timeframe shows that the pair managed to break the support level of 1.13 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.11 during the week. This is conditioned by the continuation of trading below the level of 1.14

 

Resistance levels: Support levels: Recommended:
 1.21
1.1850
▪ 1.18
▪ -
 1.11
 1.10

We are bearish as long as the pair is traded below the level of 1.14

  • GBPUSD

 

There is a strong support level that is 1.2690 which is considered to be a corner stone where we can go long. So, we will be waiting for the pair to reach this level then in case the pair shows up some bullish evidence, we can go long targeting the level of 1.30 during the week. This is conditioned by the continuation of trading above the level of 1.2690.

 

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

We are bullish as long as the pair is traded above the level of 1.2690.

  • GOLD

 

As could be seen on the chart above that the pair has reached a strong support level that is the uptrend line shown on the chart in blue. In case the pair shows up some bullish evidence above it, we can go long targeting the level of 1220 during the week. On the other hand, if the uptrend line is broken, we can go short targeting the level of 1180 during the week.

 

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

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

  • AUDUSD

 

The daily chart shows that the pair has reached a strong area (support levels) where we can go long. This area is supported by two main things: The broken downtrend line plus the support level of 0.7160. So, we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 0.7350 during the week. This is conditioned by the continuation of trading above the support levels mentioned above.

 

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

 

Again, the pair is about to reach the resistance level of 149. So, in case the pair reaches this level and shows up some bullish evidence, we can go short targeting the level of 146 during the week. This is conditioned by the continuation of trading below the level of 149.

 

Resistance levels: Support levels: Recommended:
156
 155
 149

 146.50
146
 140

We are bearish as long as the pair is traded below the level of 149.

 

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