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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

20 February 2019

powered by Land-FX

US FOMC Meeting Minutes: Wednesday, 19:00. The Federal Reserve decided to leave interest rates in late January and also made a significant policy shift to “patience” instead of the bias to raise interest rates. The Fed also opened the door to changing the balance sheet reduction program. The minutes from that meeting will shed more light on how worried Chair Jerome Powell and his colleagues are worried about the economic situation, in the US and abroad. Comments on the depth of the discussion on the balance sheet will impact stocks and comments on inflation will likely be of higher interest to the greenback.

 

 

USD
US FOMC Meeting Minutes

  • EURUSD

 

As we reported last week that the pair has been traded above a strong support level that is 1.1217 so we are bullish as long as the pair is traded above it. Our first target is 1.1515. This is conditioned by the continuation of trading above the level of 1.1217.

 

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

 

As could be seen on the daily chart that the pair is heading towards the level of 1.3260 which is where we can look for some bearish evidence in order to go short. In case this happens, we can go short targeting the level of 1.28.

 

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 1.3260.

  • GOLD

 

As could be seen on the chart above that the pair is heading towards the level of 1350. In case the pair reaches this level, we can consider going short in case some bearish evidence shows up. On the other hand, if the pair breaks through the resistance level of 1350, it might continue going up to reach the level of 1365. 

 

Resistance levels: Support levels: Recommended:
 1350
 1365
 1298
 1180
 1170

Waiting for the pair to reach the level of 1350.

  • AUDUSD

 

The daily timeframe shows 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 could be as follows: 0.73 – 0.74

 

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

 

The pair successfully managed to form its 2nd shoulder as we reported last week (The 2nd shoulder of the inverted head and shoulder pattern). Now, the pattern is ready but only one thing is missed which is the breakout of the neckline. In case it is broken, we can go long targeting the level of 153 during the week.

 

Resistance levels: Support levels: Recommended:
156
 155
 144

 140
139
 138

Waiting for the breakout of the neck-line.

 

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