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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

22 March 2019

powered by Land-FX

Japanese rate decision: Friday, during the morning. The Bank of Japan has been making dovish sounds in reaction to ongoing low inflation. This time will unlikely be different, but no actions are on the cards. The Tokyo-based institution remains the most-dovish central bank in the developed world.

US Consumer Sentiment: Friday, 14:00. Consumer sentiment has been on the back foot in recent months after reaching high levels in 2018. The preliminary version of the University of Michigan’s gauge may now show an increase from 93.8 points reported in the final version for January.

 

 

JPY
Japanese rate decision

USD
US Consumer Sentiment

  • EURUSD

 

Update: The pair went down as expected and it is very close to its final target. As could be seen on the chart above that the pair is about to reach the down trendline shown on the chart in blue. In case the pair reaches this level and shows up some bearish evidence, we can go short targeting the level of 1.1250 during the week. This will be conditioned by the continuation of trading below the downtrend line.

 

Resistance levels: Support levels: Recommended:
 1.21
1.1850
▪ 1.18
▪ -
 1.1217
 1.10

We are bearish as long as the pair is traded below the down trendline.

  • GBPUSD

 

Update: The pair is very close to its final target. The daily timeframe shows that the pair is traded below a strong resistance level that is 1.33 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.2970 during the week.

 

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

We are bearish as long as the pair is traded below the level of 1.33.

  • GOLD

 

Update: No changes>> The pair managed to break above the resistance level of 1310. Now it is traded above it which opens the door for further upward movements during the week that it may reach the level of 1330. The chart above shows that the pair is traded below a strong resistance level that is 1310. We are not sure yet what to do so it is better to wait for some bearish evidence to show up below this level, then we can go short targeting the level of 1290 during the week.

 

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

We are bearish as long as the pair is traded below the level of 1310.

  • AUDUSD

 

Update: We remain the same>> On its way to its first target. The chart above shows that the pair is traded above a strong support level that is 0.70. So we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 0.74 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: Target was hit. As could be seen on the chart above that the pair is traded below a strong resistance level that is 149.70. Therefore, we can go short targeting the level of 145 during the week. This is conditioned by the continuation of trading below the mentioned above level.

 

Resistance levels: Support levels: Recommended:
156
 155
 149

 140
139
 138

Nothing to be done for now.


 

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