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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

23 January 2019

powered by Land-FX

Japanese rate decision: Wednesday morning. The Bank of Japan has not altered its monetary policy for a few years, as inflation remains poor. Core inflation is far from the elusive 2% target despite a negative interest rate at 0.1% and the Tokyo-based institution’s pledge to keep 10-year yields close to 0%. No change is expected now, but Governor Kuroda could announce lower forecasts for inflation given the global slowdown.

 

JPY
Japanese rate decision

  • EURUSD

 

Update: We remain the same. As could be seen on the daily time frame that the pair is about to reach a strong support level that is 1.13 to 1.1250. In case the pair shows up some bullish evidence above this area, we can go long targeting the level of 1.15 during the week. This is conditioned by the continuation of trading above the level of 1.13.

 

Resistance levels: Support levels: Recommended:
 1.21
1.1850
▪ 1.18
▪ -
 1.1217
 1.10

We are bullish as long as the pair is traded above the level of 1.1250.

  • GBPUSD

 

Update: Hit our first target, on its way to the 2nd target. Having the pair traded above a strong support level that is 1.2550 means that the pair might continue going up to reach the level of 1.30 followed by 1.33 during the week.

 

Resistance levels: Support levels: Recommended:
▪ 1.36
 1.3350
▪ 1.29
 1.2550
 1.2370
 1.23

We are bullish as long as the pair is traded above the level of 1.2550.

  • GOLD

 

Update: We remain the same. The 4-hour timeframe shows that the pair is traded above a strong support level that is 1276 so we are bullish as long as the pair is traded above this level. Our first target is 1297. This is conditioned by the continuation of trading above the level of 1276.

 

Resistance levels: Support levels: Recommended:
 1330
 1280
 -
 1180
 1170

We are bullish as long as the pair is traded above the level of 1276

  • AUDUSD

 

Update: Moved to the downside so we remain the same. The daily timeframe shows that the pair is about to reach a strong support level that is 0.70. In case the pair reaches this level and shows up some bullish evidence, we can go long targeting the level of 0.71 followed by 0.72 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 level of 0.70.

  • GBPJPY

 

Update: The pair did not respect the level of 141.34 and continued going up to the 2nd resistance level that is 143.76 so we will be waiting for some bearish evidence to show up below this level.. There is no clear area where we can enter the market for now. So, it is better to wait for the pair to reach the level of 141.34 which is where we can look for some bearish evidence in order to go short.

 

Resistance levels: Support levels: Recommended:
156
 155
 141.34

 136
135
 134

Waiting for the pair to reach the level of 141.34

 

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