News & Research

Market Research & Info

Land Prime 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 July 2019

powered by Land Prime

Australian inflation: Wednesday, 1:30. Australia releases inflation data only once per quarter – making every publication more meaningful for the Aussie dollar. Headline Consumer Price Index remained flat in the first quarter and is predicted to jump by 0.5% in the second one. Trimmed Mean CPI (or core CPI) carries expectations for an increase of 0.4% after 0.3% beforehand.

Euro-zone inflation: Wednesday, 9:00. How large will the ECB’s September stimulus package be? Inflation developments may make a difference. The flash figures for July are forecast to show a moderation – 1% after 1.2% beforehand. A slowdown is due also for Core CPI, which refuses to rise. A level of 1% is now on the cards after 1.1% in June.

US ADP Non-Farm Payrolls: Wednesday, 12:15. America’s largest payroll provider publishes its jobs report for the private sector two days before the official BLS release. While the numbers are not always well-correlated, ADP’s NFP moves markets. After a disappointing increase of 102K positions in June, an increase of 150K is on the cards for July.

Canadian GDP: Wednesday, 12:30. Canada publishes Gross Domestic Product figures every month, providing fresh insights. The economy grew by a satisfactory 0.3% in April and upbeat growth has likely extended into May despite global uncertainty.

Fed decision: Wednesday, 18:00. The Federal Reserve is set to cut its benchmark interest rate for the first time since the crisis. Persistent weaker inflation and trade tensions are behind the move that comes despite upbeat GDP and employment figures. Markets have recently reduced expectations to just one single cut and then a long pause – not a long loosening cycle that they had originally foreseen. A 25 basis point interest rate cut is priced in but the Fed may still surprise by a 50bp slash or no cut at all. Assuming a regular reduction of 25bp, the focus is set to shift to the accompanying statement and Chair Jerome Powell’s press conference – conveying a message about future moves. If Powell is upbeat, the dollar has room to rise. If he is downbeat about the economy and opens the door to more cuts – there is room to the downside for the dollar.

 

 

USD
US ADP Non-Farm Payrolls
Fed decision

AUD
Australian inflation

EUR
Euro-zone inflation

 

  • EURUSD

 

Update: The pair is still traded above the support level. As could be seen on the chart above that the pair is traded above a strong support level that is 1.1118. Therefore, we are bullish as long as the pair is traded above it. Our first target is 1.1217.

 

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

We are bullish as long as the pair is traded above the level of 1.1118.

  • GBPUSD

 

Update: We are waiting for some bullish evidence to show up above the level of 1.20. As could be seen on the weekly timeframe that the pair is about to reach a strong support level that is 1.20 so we will be waiting for some bullish evidence to show up then we can go long targeting the level of 1.25 during the week.

 

Resistance levels: Support levels: Recommended:
▪ 1.36
 1.3310
▪ 1.2550
 -
 -
 1.20

We are bullish as long as the pair is traded above the level of 1.20.

  • GOLD

 

Update: The pair is still traded above the resistance level of 1451. The chart above shows that the pair is traded below a strong resistance level that is 1451. In case the pair shows up some bearish evidence below the mentioned above level, then we can go short targeting the level of 1400 during the week.

 

Resistance levels: Support levels: Recommended:
 1460
 1451
 1365
 1260
 1265

We are bearish as long as the pair is traded below the level of 1451.

  • AUDUSD

 

Update: Waiting for some bullish evidence to show up above the support level of 0.68. As could be seen on the chart above that the pair is traded above a strong support level that is 0.68. We will be waiting for some bullish evidence to show up then we can go long targeting the level of 0.71.

 

Resistance levels: Support levels: Recommended:

▪ 0.7550
0.7600
0.7000

▪ 0.6778
0.68
▪ -

We are bullish as long as the pair is traded above the level of 0.68

  • GBPJPY

 

Update: We are bearish as long as the pair is traded below the support level of 134. The chart above shows that the pair managed to breakthrough a strong support level that is 133. In case there is a daily close below it, we can go short targeting at least the level of 131 followed by 130.

 

Resistance levels: Support levels: Recommended:
156
 155
 141

 132
131
 130

Waiting for some confirmations.


 

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