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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

26 January 2017

powered by Land Prime

UK GDP data: The U.K. economy slowed less than forecast in the third quarter following the Brexit vote, amid rise in services. The reading dismissed concerns about a possible fallout before the referendum. The economy expanded 0.6% in the final read, a good outcome. However, the muted effect of the Brexit vote could be explained by the long process in which the UK plans its separation from the EU. Formal talks to start the process are only due by the end of March 2017. The fourth quarter growth rate is expected to reach 0.5%. US Unemployment Claims: New claims for US unemployment benefits fell 15,000 in the second week of January hitting 234,000, The reading was better than the 252,000 forecast pulling the four-week average down to a 43-year low of 246,750. The low level of claims below 300,000 continued a nearly two-year streak. The number of new claims is expected to reach 247,000 this week.

Important events on related currencies:

GBP
Prelim GDP q/q
EUR
Eurogroup Meetings
USD
Unemployment Claims
Your capital is at risk!

  • EURUSD

As could be seen on the daily time frame that the pair is traded below a strong resistance level around 1.0825 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.0700 followed by 1.0650 during the day. On the other hand, breaching the level of 1.0825 opens the door for the pair to reach the level of 1.0900 during the day.

Resistance levels: Support levels: Recommended:
▪ 1.0900
▪ 1.0825
▪ --		 ▪ 1.0700
▪1.0650
▪ --		 We remain bearish as long as the pair is traded below the level of 1.0680.
Your capital is at risk!
  • GBPUSD

We will be waiting for the pair to break through the level of 1.2640 then we may go long targeting the level of 1.2720 during the day.

Resistance levels: Support levels: Recommended:
▪ 1.2640
▪ 1.2720
▪ --		 ▪ 1.2540
▪ --
▪ --		 Waiting for the pair to confirm its way.
Your capital is at risk!
  • GOLD

The gold is traded right below a strong resistance level around 1202 so as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1195 followed during the day. On the other hand, breaching the level of 1202 opens the door for the pair to reach the level of 1207 during the day.

Resistance levels: Support levels: Recommended:
▪ 1202
▪ 1207
▪ --		 ▪ 1195
▪ --
▪ --		 We remain bearish as long as the pair is traded below the level of 1202.
Your capital is at risk!
  • AUDUSD

The pair may continue going up to reach the level of 0.7595 to 0.7600 during the day. In case it show some negative factors, we may go short targeting the level of 0.7500 during the day. On the other hand, breaching the level of 0.7600 opens the door for further upward movement during the day.

Resistance levels: Support levels: Recommended:
▪ 0.7630
▪0.7650
▪0.7585		 ▪ 0.7500
▪ --
▪ --		 We remain bearish as long as the pair is traded below the level of 0.7600
Your capital is at risk!
  • GBPJPY

The pair is traded below a strong resistance level around 143.75 so we believe that as long as the pair is traded below it, we may go short targeting the level of 143 during the day. On the other hand, breaching the level of 143.75 opens the door for the pair to reach the level of 145.

Resistance levels: Support levels: Recommended:
▪ 143.75
▪ 145
▪ --

▪ 143
▪ --
▪ --

 We remain bearish as long as the pair is traded below the level of 143.75
Your capital is at risk!