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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

24 May 2019

powered by Land-FX

UK retail sales: Friday, 8:30. UK shoppers were out and about in March and the volume of sales increased by a whopping 1.1%. The data for April may be different, as Easter came later. We may see another volatile outcome. In any case, the focus will soon turn back to Brexit.

US durable goods orders: Friday, 12:30. Investment has been lagging in comparison to other parts of the US economy. The data for April, released now, will provide a better insight into GDP growth in the second quarter of the year. Headline orders rose by 2.7% in March but core ones advanced by only 0.4%. The focus remains on core figures due to the high volatility of the headline data, heavily influenced by aircraft sales.

 

 

GBP
UK retail sales

USD
US durable goods orders

  • EURUSD

 

Update: We remain the same. The daily timeframe shows that the pair is traded above a strong support level that is 1.1118. We will be waiting for the pair to show up some bullish evidence then we can go long targeting the level of 1.1217 during the week. This is conditioned by the continuation of trading above the support level of 1.1118.

 

Resistance levels: Support levels: Recommended:
 1.21
1.1850
▪ 1.1217
▪ -
 -
 1.1118

Waiting for the pair to show up some bullish evidence.

  • GBPUSD

 

Update: Still waiting for the pair to reach the support area. The chart above shows that the pair is about to reach a strong support level that is 1.2550 – 1.2500. We will be waiting for the pair to reach this area, then in case it shows up some bullish evidence, we can go long targeting the level of 1.28 during the week.

 

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 hit our final target. The chart above shows that the pair is traded above a strong support level that is 1265. Therefore, we are bullish as long as the pair is traded above it. Our first target is 1282.

 

Resistance levels: Support levels: Recommended:
 1350
 1365
 1245
 1260
 1265
We are bullish as long as the pair is traded above the level of 1265..

  • AUDUSD

 

Update: We remain the same. The pair is traded in a very tight range as could be seen on the chart above. We might wait for the pair to reach the resistance level of 0.70 then we can go short targeting the level of 0.6788 in case the pair shows up some bearish evidence.

 

Resistance levels: Support levels: Recommended:

▪ 0.7550
0.7600
▪ 0.
7000

▪ 0.6788
-
▪ -

We are bearish as long as the pair is traded below the level of 0.70.

  • GBPJPY

 

Update: We a daily close to confirm the breakout for the support level of 139. As could be seen on the chart above that the pair is traded above a strong support level that is 139 so we will be waiting for the pair to show up some bullish evidence then we can go long targeting the level of 141 during the week.

 

Resistance levels: Support levels: Recommended:
156
 155
 141

 139
138
 137

Nothing to be done for now.


 

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