News & Research

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

13 February 2019

powered by Land Prime

New Zealand rate decision: Wednesday, 1:00. After the nation reported an increase in unemployment, the RBNZ may shift its tone to a more dovish one. The interest rate is projected to remain unchanged at 1.75% despite the data and the deteriorating global outlook. The fall in the kiwi supports exports amid the downturn. Governor Adrian Orr will meet the press at 2:00 GMT as the RBNZ also publishes its quarterly inflation expectations report.

UK inflation report: Wednesday, 9:30. Inflation stood at 2.1% in December, just above the 2% target. The report for January is projected to show a dip to 1.9%, just below the target. Falling energy prices are behind the deceleration in inflation. Core CPI is expected to remain unchanged. While the BOE is Brexit-dependent, inflation data still matters for the day after Brexit.

US inflation report: Wednesday, 13:30. The Federal Reserve may be patient as inflation remains low. Core CPI stood at 2.2% y/y in December and no significant changes are projected. Headline monthly CPI is forecast to rise by 0.1% in January after a drop of the same scale in December. Core CPI carries expectations for 0.2% m/m, the same as beforehand.

Japan GDP: Wednesday, 23:50. Japanese figures do not move the yen very often, but GDP is a different animal. The Japanese economy shrank by 0.6% in the third quarter, but such episodes of contraction are not rare in the Land of the Rising Sun. The nation is not expected to enter a recession, with Q4 GDP projected to increase by 0.4%.

 

 

NZD
New Zealand rate decision

GBP
UK inflation report

USD
US inflation report

JPY
Japan GDP

  • EURUSD

 

Update: We remain the same. The daily timeframe shows that the pair is traded above a strong support level that is 1.1217. Therefore, we are bullish as long as the pair is traded above this level. Our first target is: 1.15.

 

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 1.1217
  • GBPUSD

 

Update: We remain the same. We are not able to find any place where we can enter the market. So, we will be waiting for the pair to reach the support level of 1.2730 – 1.27 (where we can look for some bullish evidence).

 

Resistance levels: Support levels: Recommended:
▪ 1.36
▪ 1.33
▪ 1.32		 ▪ 1.2730
▪ 1.27
▪ 1.26

Waiting for the pair to reach the area located between 1.2730 – 1.27.

  • GOLD

 

Update: The pair started going down as expected. As could be seen on the 4 hour-chart that the pair is traded within a descending channel and to be accurate, just right below the upside of the channel which suggests that the pair might go down targeting the level of 1298 during the week.

 

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

We are bearish as long as the pair is traded below the upside of the channel.

  • AUDUSD

 

Update: No changes. We remain the same. As could be seen on the daily timeframe that the pair is traded above a strong support level that is 0.70 so we are bullish as long as the pair is traded above it. Our first target is: 0.73.

 

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 has not moved too much today. As could be seen on the daily timeframe that the pair is forming a head and shoulders pattern. The 2nd shoulder is being formed so we will be waiting for the pair to confirm the validity of the pattern by the breakout of the neck-line.

 

Resistance levels: Support levels: Recommended:
▪ 156
▪ 155
▪ 144

▪ 140
▪ 139
▪ 138

Waiting for the breakout of the neck-line.

 

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