নিউজ এবং রিসার্চ

মার্কেট রিসার্চ এবং ইনফো

মার্কেট রিসার্চ এবং ইনফো

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

27 June 2019

powered by Land-FX

Japanese rate decision: Thursday, early morning. The Bank of Japan already enacts the loosest monetary policy in the developed world by committing to keep the 10-year yields depressed and with a negative interest rate. Nevertheless, the BOJ is far from its 2% inflation target. Will Governor Haruhiko Kuroda and his colleagues offer something new? They may extend their pledge for low rates, but that will not convince markets.

UK retail sales: Thursday, 8:30. Just before the rate decision, retail sales data for May are projected to fall by 0.5% after remaining flat in April. The UK economy has suffered in April after a surge in March – all related to stockpiling ahead of Brexit – which has not happened. It is important to note that fluctuations are common in this figure.

BOE decision: Thursday, 11:00. The Bank of England has expressed its intention to raise interest rates to stay ahead of the curve on inflation and to have a buffer in case of a recession. However, high uncertainty regarding Brexit has paralyzed any policymaking. Does the BOE still project a smooth Brexit? Do they still intend to raise interest rates or will they follow their colleagues in ditching the idea?


GBP
UK retail sales

BOE decision

JPY
Japanese rate decision

 

  • EURUSD

 

Update:  We remain the same. The daily timeframe shows that the pair has showed up a bearish engulfing pattern (bearish evidence) below a strong resistance level that is 1.1447. We expected that the pair might go down to reach its first target that could be found at 1.13. On the other hand, breaching the level of 1.1447 can open the door for further upward movement that it might reach the level of 1.1535.

 

Resistance levels: Support levels: Recommended:
 1.1500
1.1450
▪ --
▪ -
 -
 1.1118

We are bearish as long as the pair is traded below the level of 1.1447

  • GBPUSD

 

Update:  We remain the same. The chart above shows that the pair is traded above a strong support level that is 1.25. Therefore, we are bullish as long as the pair is traded above it. Our first target is 1.28.

 

Resistance levels: Support levels: Recommended:
▪ 1.36
 1.3310
▪ 1.33
 -
 1.25
 1.2450

We are bullish as long as the pair is traded above the support level of 1.25.

  • GOLD

 

Update:  The candle of today could be a misleading sign so the candle of tomorrow will confirm it. The pair popped up to a new price that it has not reached since 2016. The only way we can enter the market is to wait for a correction around 1365 where we can go long. In case this happens, we can go long targeting the level of 1380 followed by 1400.

 

Resistance levels: Support levels: Recommended:
 1440
 1410
 1365
 1260
 1265

We are bullish as long as the pair is traded above the level of 1365.

  • AUDUSD

 

Update:  We remain the same. 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 0.68.

 

Resistance levels: Support levels: Recommended:

▪ 0.7550
0.7600
0.7000

▪ 0.6778
0.68
▪ -

We are bearish as long as the pair is traded below the level of 0.7000.

 
  • GBPJPY

 

Update:  We remain the same. As could be seen on the chart above that the pair is traded above a strong support level that is 134. We are looking for some bullish evidence to show up above it, then we can go long targeting the level of 140. This is conditioned by the continuation of trading above the support level of 134.

 

Resistance levels: Support levels: Recommended:
156
 155
 141

 134
133
 132

Waiting for some bullish evidence to show up.


 

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