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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

31 May 2019

powered by Land-FX

Canadian GDP: Friday, 12:30. Canada publishes its GDP data on a monthly basis. Back in February, the economy shrank by 0.1%, worse than forecasts. We will now receive the data for March, which also concludes the first quarter. Weak growth is on the cards.

US Core PCE: Friday, 12:30. This is the Fed’s preferred measure of inflation. It dropped to 1.6% y/y in March, a disappointing outcome. However, Fed Chair Jerome Powell said that Q1 inflation is “transitory”. A minimal acceleration to 1.7% is likely now and will help vindicate the central banker’s words.

 

 

CAD
Canadian GDP

USD
US Core PCE

  • EURUSD

 

Update: Still traded above the support level of 1.1118. As could be seen on the chart above that the pair is about to reach a strong support area that could be found at 1.1118. Therefore, we will be waiting for the pair to reach this level then in case it shows up some bullish evidence, we can go long targeting the level of 1.1217 during the week.

 

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

Waiting for the pair to reach the support area.

  • GBPUSD

 

Update: Still waiting for some bullish evidence. As could be seen on the chart above that the pair has reached the support area located between 1.27 to 1.2250 which is where we can look for some bullish evidence then we can go long targeting the level of 1.29 during the week.

 

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

Waiting for some bullish evidence to show up

  • GOLD

 

Update: The pair could continue going up to reach the resistance level of 1310. As could be seen on the chart above that the pair is about to reach a strong support level that is 1266 which is where we can look for some bullish so we can go long.. This scenario will be updated very soon.

 

Resistance levels: Support levels: Recommended:
 1350
 1365
 1245
 1260
 1265
Waiting for the pair to reach 1266.

  • AUDUSD

 

Update: Still traded below the level of 0.70. The chart above shows that the pair is traded below a strong resistance level that is 0.70. We are bearish as long as the pair is traded below 0.70. Our first target is: 0.6780.

 

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: The pair is heading towards the level of 137. As could be seen on the chart above that the pair is traded below a strong resistance level that is 140.20 which means that the pair might continue going do to reach its first target at 136.

 

Resistance levels: Support levels: Recommended:
156
 155
 141

 136
135
 134

We area bearish as long as the pair is traded below the level of 140.20


 

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