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

14 February 2019

powered by Land Prime

German GDP: Thursday, 7:00. According to the central bank’s projections, the largest economy in the euro-zone barely escaped a recession. After contracting in Q3 by 0.2%, mostly due to new emissions regulations, the “locomotive” of the euro-zone is expected to grow by 0.1% in Q4. However, economic data have been disappointing. Stagnation or an outright second consecutive quarter of contraction, and thus a recession, cannot be ruled out.

US Retail Sales: Thursday, 13:30. The US finally publishes the retail sales report for December, delayed due to the government shutdown. Headline sales rose by 0.2% in November, and so did core sales. However, the Control Group jumped by 0.9%. Data for December will likely be more moderate: headline sales are predicted to rise by 0.1%, core sales to remain flat, and the control group is unlikely to repeat the same surge. While consumption is central to the US economy, the data is a tad stale. Nevertheless, it will help shape expectations for the belated GDP report due late in February.

US PPI: Thursday, 13:30. Contrary to the retail sales, the Producer Price Index report is for January, thus more up to date, albeit less important. Headline PPI dropped by 0.2% in December and is now expected to rise by 0.1%. Core PPI also slipped, by 0.1%, and now carries expectations for an increase of 0.2%.

UK Parliament votes on Brexit: Tentative and may be postponed until late February. UK PM Theresa May continues trying to convince her European counterparts to amend the Brexit deal and change the legally binding text regarding the Irish Backstop. She is repeatedly refused. A Labour initiative to offer support in return for a closer relationship with the EU, close to the Norwegian model, is also on the cards. If there is a new accord, it will be brought to Parliament. The clock is ticking down towards Brexit Day, March 29th, 2019. An extension is also on the cards.

 

 

EUR
German GDP

GBP
UK Parliament votes on Brexit

USD
US Retail Sales
US PPI

  • EURUSD

Update: No changes, 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: On its way to reach the first support level. 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 just hit the level of 1300 then went up. No more entry points for this week. 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: Still traded above the support level of 0.70. 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: On its way to form the 2nd shoulder. 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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