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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

21 February 2019

powered by Land-FX

Australian jobs report: Thursday, 00:30. Australia’s jobs reports beat expectations in the past three reports, with an increase of 21.6K positions in December. The unemployment rate dropped to 5%, also an encouraging development. We will now receive the figures for January.

Euro-zone PMIs: Thursday morning: 8:15 for France, 8:30 for Germany, and 9:00 for all the euro-zone. Purchasing managers’ indices are forward-looking surveys and have become more important of late as concerns about a recession grow. The data PMI data may provide an early warning sign. Back in January, France had a Manufacturing PMI at 51.2 points, barely above the 50-point threshold that separates expansion from contraction. The services sector is already contracting according to Markit’s measure: 47.8 points. Germany had the opposite picture: contraction in manufacturing with 49.7 and expansion in services: 53. The euro-zone manufacturing PMI stood at 50.5 while the services PMI was 51.2.

US durable goods orders: Thursday, 13:30. The data have been delayed due to the government shutdown. Headline sales rose by 0.8% in November and an increase of the same scale is due for December. Core orders, which carry more weight, are projected to rise by 0.2% after a slide of 0.3% beforehand.

US existing home sales: Thursday, 15:00. The US housing sector is showing signs of slowing down. The annualized number of sales dropped to 4.99 million in December, extending the slump. The data for January is due now.

 

 

USD
US durable goods orders
US existing home sales

AUD
Australian jobs report:

EUR
Euro-zone PMIs

  • EURUSD

 

Update: We remain the same. 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

 

Update: No changes, we remain the same. 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

 

Update: A bearish candle showed up yesterday and the pair reversed downwards as expected. 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

 

Update: We remain the same. 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

 

Update: We remain the same. 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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