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Market Research & Info

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

14 November 2018

powered by Land-FX

German GDP: Wednesday, 7:00. We have already learned that the euro-zone economy slowed down in Q3: 0.2% according to the first release. However, the publication did not include Germany, the largest country. The locomotive of Europe grew by 0.5% in Q2 and a slowdown is likely in Q3 with a potential for an outright contraction of 0.3%. A significant deviation will impact the update for the euro-zone GDP due at 10:00.

UK inflation: Wednesday, 9:30. Inflation has cooled down and decelerated in recent months. Higher wages and a slower pace of price rises have resulted in growth in real wages. The Consumer Price Index stood at 2.4% in September. A small acceleration is projected now: 2.5% y/y. Core CPI was at 1.9% wand the same number is on the cards now. The Retail Price Index (RPI) stood at 3.3% and 3.4% is on the cards for October.

US inflation: Wednesday, 13:30. The US Consumer Price Index hardly moved in September: both the CPI and Core CPI rose by only 0.1%. The small monthly change resulted in annual Core CPI, the most important measure, getting stuck at 2.2%. Has inflation picked up in October? Headline inflation is projected to rise by 0.3% m/m and core CPI by 0.2%.

EUR
German GDP

GBP
UK inflation

USD
US inflation

  • EURUSD

 

Update: Still traded below the resistance level of 1.14. 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

 

Update: We remain the same. 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

 

Update: Still traded above the uptrend line. 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

 

Update: Still traded above the support levels. 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

 

Update: We remain the same. 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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