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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

15 May 2019

powered by Land-FX

German GDP: Wednesday, 6:00. The largest economy in Europe escaped a recession, but only just. It remained flat in the last quarter of 2018 after contracting beforehand. A rebound is on the cards for the first quarter of 2019, albeit with a meager growth rate of 0.2%. The all euro-zone measure will be published later, but it is heavily influenced by the German number.

US retail sales: Wednesday, 12:30. The US economy is based on consumption and the new figures for April will shed some light on prospects for the second quarter. Headline sales rose by 1.6% in March, and a more moderate growth rate of 0.2% is predicted for April. Core retail sales advanced by 1.2% and also here, expectations are for a slower expansion worth 0.7%. Another strong report will lower the chances of a rate cut by the Federal Reserve.

 

 

EUR
German GDP

USD
US retail sales

  • EURUSD

 

The chart above shows that the pair is traded between two strong levels; the resistance level (the downtrend line shown on the chart in red) and the support level that could be found at 1.1120. We will wait for the pair to reach one of these levels then we can enter the market.

 

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

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

  • GBPUSD

 

As we stated last week that the pair is about to reach a strong support level that could be found at 1.2737 which is where we can go long in case it shows up some bullish evidence.

 

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

Waiting for the pair to reach the support level.

  • GOLD

 

As could be seen on the chart above that the pair is about to reach a strong resistance level that could be found at 1310 which is where we can go short targeting the level of 1282.

 

Resistance levels: Support levels: Recommended:
 1350
 1365
 1245
 1180
 1170
We are bearish as long as the pair is traded below the level of 1310.

  • AUDUSD

 

The chart above shows that the pair is traded above a strong support level that is the downside of the bearish channel. This opens the door for further upward movement during the week that it may reach the level of 0.71.

 

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 downside of the bearish channel.

  • GBPJPY

 

The pair finally reached the target of last week at 140.20. Now the pair is facing a strong support level. We need some bullish evidence to show up above the support level then we can go long targeting the level of 143.70 during the week.

 

Resistance levels: Support levels: Recommended:
156
 155
 149

 140
139
 138

Nothing to be done for now.


 

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