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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

30 January 2019

powered by Land-FX

Australian inflation: Wednesday, 00:30. Australia publishes its Consumer Price Indicator report only once per quarter, making each publication significant. In Q3, both headline inflation and rose by 0.4%, a moderate pace. A repeat of these numbers is expected.

US ADP Non-Farm Payrolls: Wednesday, 13:15. The private sector report by Automated Data Processing (ADP) beat all expectations with an increase of 271K jobs in December, setting the stage for a blockbuster official Non-Farm Payrolls report. The report for January may be somewhat more moderate. An increase of 170K is on the cards.

Fed decision: Wednesday: decision at 19:00, press conference at 19:30. In the final decision for 2018, the Federal Reserve raised interest rates but lowered its projections for 2019: two rate cuts against three that had been forecast. Also, Fed Chair Jerome Powell said that the scheme to reduce the balance sheet would continue “auto-pilot.” His words sent stocks lower. The decision was considered hawkish. Since then, the tunes have changed. Powell and some of his colleagues suggested a change to Quantitative Tightening. They also acknowledged the slowdown and called for patience in raising interest rates. Raphael Bostic of the Atlanta Fed took one step further and said prices could also go down. No policy changes are expected in this rate decision in January. However, it will be an opportunity for the Fed and Powell to officially clarify their new way of thinking and perhaps also explicitly rule out an increase in March when the Fed publishes new forecasts.

 

 

USD
US ADP Non-Farm Payrolls
Fed decision

AUD
Australian inflation

  • EURUSD

 

Update: We remain the same. The daily timeframe shows that the pair is traded above a strong support level that is 1.1217. So, we are bullish as long as the pair is traded above this level. Our first target: 1.1535 followed by 1.1620.

 

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: The pair started going down. There is no strong level where we can enter the market for now. Therefore, we will be waiting for the pair to reach the resistance area between: 1.32 to 1.33. This is where we can look for some bearish evidence, then we can go short targeting the level of 1.30 followed by 1.29 during the week.

 

Resistance levels: Support levels: Recommended:
▪ 1.36
 1.33
▪ 1.32
 1.2550
 1.2370
 1.23

Waiting for the pair to reach the resistance area between 1.32 – 1.33

  • GOLD

 

Update: Still waiting for the pair to retest the broken level. he pair managed to breakthrough a strong resistance level that is 1298, so it is traded above it which means that the pair might continue going up. We cannot enter the market for now so it is better to wait for the pair to test the broken level (1298) then we can go long targeting the level of 1310 during the week.

 

Resistance levels: Support levels: Recommended:
 1330
 1310
 1298
 1180
 1170

We are bullish as long as the pair is traded above the level of 1298.

  • AUDUSD

 

Update: No changes. 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: We remain the same. The daily timeframe shows that there is a strong crossover that was formed by the downtrend line (in red) and the up trendline (in blue). This makes a very strong resistance level. Therefore, we will be waiting for the pair to reach this area, then we can go short targeting the level of 141 followed by 140 during the week.

 

Resistance levels: Support levels: Recommended:
156
 155
 141.34

 136
135
 134

Waiting for the pair to reach the crossover area.

 

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