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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

24 January 2019

powered by Land Prime

Australian jobs report: Thursday, 00:30. Australia gained no less than 37K positions in November, much better than expected. The unemployment rate rose to 5.1% but this is the result of an increase in the participation rate. The report for December is forecast to show an increase of 18.1K jobs in the land down under. The jobless rate is expected to remain unchanged.

Euro-zone rate decision: Thursday, the decision at 12:45, press conference at 13:30. The European Central Bank ended the Quantitative Easing program, or bond-buying scheme, at the end of 2018. It projected that the first rate rise will come in September at the earlier, but this may have to be pushed back due to increasing signs of an economic slowdown. Italy probably entered a recession and Germany narrowly averted it. France suffered from protests and other countries cannot pull the currency bloc forward. The Frankfurt-based institution does not publish new forecasts at this time and may refrain from its guidance. However, President Mario Draghi could express more caution in the press conference, weighing on the euro. An upbeat approach could boost the common currency.

 

AUD
Australian jobs report

EUR
Euro-zone rate decision

  • EURUSD

 

Update: The candle of today is bearish, so 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: No changes >> 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: Still traded above the support level of 1276. 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: 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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