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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

16 May 2019

powered by Land-FX

Australian jobs report: Thursday, 1:30. The Australian job market is still growing at a rapid clip despite a slowdown in other fields. The Land Down Under gained 25.7K positions in March, and another increase is on the cards: 15.2K. The jobless rate is forecast to remain unchanged at 5%, a low level.

 

 

AUD
Australian jobs report

  • EURUSD

 

Update: We remain the same. 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

 

Update: Still waiting for the pair to reach the support level. 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

 

Update: The pair is about to reach our first target. 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

 

Update: Could the downside of the channel be broken? In case it is broken, we can have an alternative scenario. 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

 

Update: We're still waiting for some bullish evidence to show up. 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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