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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

29 March 2019

powered by Land-FX

UK GDP (final): Friday, 9:30. According to the first release, the UK economy grew by 0.2% q/q in the last quarter of 2018, the same as the euro-zone. The slow growth comes after better figures beforehand. The final read will likely confirm the initial one, but revisions to the annual figure are rather common.

Euro-zone inflation: Friday, 9:00. Headline inflation moderated in the euro-zone after a few months of higher levels, due to oil prices. An annual level of 1.5% was recorded in February. Core inflation is lower and has not budged much. It stood at 1% in February. Similar figures are likely.

Canadian GDP: Friday, 12:30. The Canadian economy shrank by 0.1% in December, the last month of 2018, a figure that disappointed. We will now receive the first release for 2019 with the publication for January.

 

 

GBP
UK GDP (final)

EUR
Euro-zone inflation

CAD
Canadian GDP

  • EURUSD

 

Update: On its way to its first target. 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

 

Update: On its way to its first target that could be found at 1.2950. 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

 

Update: The pair managed to break the downside of the up channel which opened the door for a very strong downward movement... Waiting for the pair to reach the support level of 1282. channels do 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

 

Update: No changes so we remain the same. 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

 

Update: No changes as the pair is still traded above the support level of 143.70. 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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