News & Research

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

25 April 2019

powered by Land-FX

Japan rate decision: Thursday, early in the day. The Bank of Japan remains the most dovish central bank in the developed world despite a dovish tilt from quite a few central banks. The BOJ is due to leave the interest rate at -0.10% and pledge to hold down the long-term interest rate, by targeting a low 10-year yield. BOJ Governor Haruhiko Kuroda will hold a press conference at the wake of the European session to explain the decision.

US Durable Goods Orders: Thursday, 12:30. Orders of durable goods serve as an excellent gauge of investment and are closely watched by the Federal Reserve. The report is for March and serves as input towards the GDP data on the following day. In February, headline orders dropped by 1.6%, but core orders rose by 0.1%. The headline tends to be volatile. Markets are hoping for increases this time. Headline sales are projected to rise by 0.7% and core sales by 0.2%.

 

 

JPY
Japan rate decision

USD
US Durable Goods Orders

  • EURUSD

 

Update: The pair is still traded above the last support level where we expect that the pair will bounce. Let us see if the pair will show up some bullish evidence to confirm its next movement. The daily timeframe shows that the pair is traded above a strong support area that is 1.12 – 1.1150 which is where we can look for some bullish evidence, then we can go long targeting the level of 1.13 followed by 1.14.

 

Resistance levels: Support levels: Recommended:
 1.21
1.1850
▪ 1.18
▪ -
 1.12
 1.1150

We are bullish as long as the pair is traded above the level of 1.1150.

  • GBPUSD

 

Update: Still waiting for the pair to reach one of the suggested levels. The chart above shows that the pair is traded in the middle of two strong levels. The first level is the support level of 1.2750 and the 2nd level is the resistance level of 1.32 – 1.33. We will be waiting for the pair to reach one of these levels then we can enter the market. The analysis will be updated if the pair reaches one of these levels.

 

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

Waiting for the pair to reach one of the levels mentioned in the analysis.

  • GOLD

 

Update: The pair started going up as expected. As could be seen on the chart above that the pair is about to reach a strong support level that is the uptrend line shown on the chart in blue. We have to scenarios: The first one, if the pair shows up some bullish evidence above the uptrend line, then we can go long targeting the level of 1330 during the week. On the other hand, if the uptrend line is broken, we can go short targeting the level of 1245.

 

Resistance levels: Support levels: Recommended:
 1350
 1365
 1245
 1180
 1170
Waiting for the pair to confirm its upcoming movement.

  • AUDUSD

 

Update: Waiting for the pair to show up some bullish evidence to confirm its next movement. The daily timeframe shows that the pair is about to reach a strong support level that is 0.70 which is where we can go long targeting the level of 0.72 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: The pair is about to reach the expected level. The chart above shows that the pair is making lower highs and lower lows which is considered to be a bearish movement. We expect that the pair might continue going down to reach the level of 143.50 conditioned by the continuation of trading below the level of 149.

 

Resistance levels: Support levels: Recommended:
156
 155
 149

 140
139
 138

Nothing to be done for now.


 

 

Disclaimer: The information contained in this publication is produced by Land-FX and not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects Land-FX current judgment and may change without notice. This message is for information purposes only and is not intended as an offer, recommendation or solicitation to buy or sell, nor is it an official confirmation of terms. No representation or warranty is made that this information is complete or accurate. Any views or opinions expressed do not necessarily represent that Land-FX. This email and the information it contains may be confidential, proprietary or legally privileged. You must not, directly or indirectly, use, disclose, distribute, copy or store this message or any part of it if you are not the intended recipient. Unless otherwise stated, any pricing information given in this email is indicative only, is subject to changes and does not constitute an offer to deal at any price quoted.