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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

13 June 2019

powered by Land-FX

Australian jobs report: Thursday, 1:30. After the Reserve Bank of Australia slashed interest rates, it will be interesting to see if the labor market remains in the spotlight and will shape the next rate decision. The economy gained 28.4K in April and the unemployment rate stood 5.2% — above the previous lows but still a level to envy. A more moderate gain in positions is likely in the report for May.

Swiss rate decision: Thursday, 7:30, press conference at 8:00. The Swiss National Bank has left its interest rate at -0.75% — deep in negative territory — since it removed the EUR/CHF peg back in January 2015. The SNB has also maintained its pledge to intervene in currency markets as much as it deems necessary. In its quarterly decision, the organization led by Thomas Jordan is forecast to leave its policy unchanged. He may stress that intervention may become necessary as safe-haven flows are pushing the value of the franc higher and as the euro is on the back foot after the dovish ECB meeting.

AUD
Austrailan jobs report

CHF
Swiss rate decision

 

  • EURUSD

 

Update: The pair might go down to retest the broken level.  As could be seen on the chart above that the pair managed to break the downtrend line shown on the chart in red. This simply opens the door for further upward movement during the week that it might reach the level of 1.1419 as first target. This is conditioned by the continuation of trading above the broken downtrend line.

 

Resistance levels: Support levels: Recommended:
 1.21
1.1419
▪ --
▪ -
 -
 1.1118

We are bullish as long as the pair is traded above the broken downtrend line.

  • GBPUSD

 

Update: We remain the same. The daily timeframe shows that the pair is traded above a strong support level that is 1.2550. Therefore, we are bullish as long as the pair is traded above it. Our first target is 1.30.

 

Resistance levels: Support levels: Recommended:
▪ 1.36
 1.3310
▪ 1.33
 -
 1.2550
 1.2500

We are bullish as long as the pair is traded above the support level of 1.2500

  • GOLD

 

Update: No changes, we remain the same. The chart above shows that the pair is traded below a strong resistance level that is 1350. Therefore, we are bearish as long as the pair is traded below it. Our first target is 1310.

 

Resistance levels: Support levels: Recommended:
 1350
 1365
 1245
 1260
 1265

We are bearish as long as the pair is traded below the level of 1350.

  • AUDUSD

 

Update: The pair is on its way to reach its final target. As could be seen on the chart above that the pair is traded below a strong resistance level that is 0.7000 therefore, we are bearish as long as the pair is traded below it. Our first target is 0.6850.

 

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 0.7000

  • GBPJPY

 

Update: still waiting for bullish evidence. The chart above shows that the pair is about to reach a strong support level that could be found at 134. We will be looking for some bullish evidence around this area for an expected movement to the upside. We will update the report in case there is any change

 

Resistance levels: Support levels: Recommended:
156
 155
 141

 134
133
 132

Waiting for some bullish evidence to show up.

 

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