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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

26 March 2019

powered by Land-FX

US Durable Goods Orders: Tuesday, 12:30. Orders of durable goods reflect investment and feed into GDP calculations. This is the second release of the dataset this month, as the Census Bureau is catching up with the gap created by the government shutdown. The previous report was for January and showed an increase in the headline figure by 0.4% but a drop in core orders: -0.1%. We will now get the data for February.

US CB Consumer Confidence:  Tuesday, 14:00. Consumer confidence was hit by the government shutdown but recovered according to both the University of Michigan’s measure and also this one. Confidence is correlated with actual consumption. After hitting a level of 131.4 in February, a similar number is due for March.

 

 

USD
US Durable Goods Orders
US CB Consumer Confidence

  • EURUSD

 

The daily timeframe shows that the pair is traded below a strong resistance level that is the downtrend line. This indicates that the pair might continue going down to reach the level of 1.12 followed by 1.1150

 

Resistance levels: Support levels: Recommended:
 1.21
1.1850
▪ 1.18
▪ -
 1.1217
 1.1150

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

  • GBPUSD

 

As could be seen on the chart above that the pair is traded below a strong resistance level that is 1.3310. We will be waiting for the pair to show up some bearish evidence then we can go short targeting the level 1.29 during the week.

 

Resistance levels: Support levels: Recommended:
▪ 1.36
 1.3310
▪ 1.33
 1.29
 1.27
 1.26

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

  • GOLD

 

As could be seen on the chart above that the pair is traded within an ascending channel. Trading price channels does rely on the upside and the downside. This simply means that we will have to wait for the pair to reach one of these extremes then we can enter the market targeting the opposite side.

 

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

Waiting for the pair to reach an area where we can enter the market.

  • AUDUSD

 

As could be seen on the chart above 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

 

As could be seen on the chart above that the pair is traded above a strong support level that is 143.70. Therefore, we can go long targeting the level of 144 during the week. This is conditioned by the continuation of trading above 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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