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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

31 January 2019

powered by Land-FX

Euro-zone GDP: Thursday, 10:00. The euro-zone economies slowed down in 2018, with a meager expansion of 0.2% in the third quarter. Figures for the last quarter of the year are unlikely to be better. Italy may have entered an outright recession while Germany probably only escaped it narrowly. The data impacts the ECB. A repeat of the 0.2% growth rate is on the cards.

Canadian GDP: Thursday, 13:30. The Canadian economy expanded by a satisfactory 0.3% in October, the first month of Q4. The fresh publication is for November and could be a tad lower.

US Core PCE Price Index: Thursday, 13:30. The Fed targets Core Price Expenditure Index, making the figure significant for markets despite the lagging publication. With stable Core CPI figures, no significant changes are projected to the y/y numbers. On a monthly basis, prices rose by 0.1% in November and may have risen by 0.2% in December. Note that this release may be canceled.

 

USD
US Core PCE Price Index

EUR
Euro-zone GDP

CAD
Canadian GDP

  • EURUSD

 

Update: The pair is about to reach its first target. 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: No changes>> 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: No changes. The best level to enter the market is 1298. The 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: First target was hit. 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 started going down. 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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