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

12 September 2019

powered by Land Prime

ECB decision: Thursday, the decision at 11:45, press conference at 12:30. The European Central Bank is set to introduce a significant package of monetary stimulus. The Frankfurt-based institution has already hinted at this in its previous meeting in July. A looming German recession, slowing global demand, and subdued inflation has all pushed the bank to pre-announce a move. A rate cut of 10 basis points from the current deposit rate of -0.40% – already deep in negative territory – is a minimal step and priced in by markets. President Mario Draghi and his dovish colleagues may push for a deeper cut of 20bp or even a resumption of the bond-buying scheme (QE). However, hawks such as Bundesbank President Jens Weidmann will likely push back. The euro may rise if the ECB settles for a minor rate cut – especially if it is accompanied by a tiering system that exempts some banks from lower rates. If the bank goes for a more aggressive move, the common currency has room to fall.

US inflation: Thursday, 12:30. One of the main reasons for the Federal Reserve’s rate cut in July was low inflation. Less than a week ahead of the next Fed decision, it will receive fresh inflation figures for August. Headline Consumer Price Index (CPI) rose by 0.3% in July and Core CPI by 0.3% on a monthly basis and 2.2% on an annual one. An acceleration may cast doubt on the Fed’s intentions to raise rates, while a fall back to 2% or lower may trigger speculation for a more dovish message.

 

 

USD
US inflation

EUR
ECB decision

  • EURUSD

 

As could be seen on the chart above that the pair is traded below a strong resistance level that is 1.1065. Therefore, we will be waiting for some bearish evidence below this level then we can go short targeting the level of 1.0950.

 

Resistance levels: Support levels: Recommended:
▪ 1.1242
▪ 1.1180
▪ 1.1065		 ▪ -
▪ -
▪ 1.0950

We are bearish as long as the pair is traded below the level of 1.1065.
  • GBPUSD

 

The chart above shows that the pair is traded below a strong resistance level that is 1.2380. Therefore, we are bearish as long as the pair is traded below it. Our first target is 1.2250. Conditioned by the continuation of trading above the level of 1.20.

 

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

We are bearish as long as the pair is traded below the level of 1.2380.

  • GOLD

 

As could be seen on the chart above that the pair is traded below a strong resistance level that is 1525. So, we are bearish as long as the pair is traded below it. Our first target is 1498.

 

Resistance levels: Support levels: Recommended:
▪ 1550
▪ 1540		 ▪ 1490
▪ 1260
▪ 1265		 We are bearish as long as the pair is traded below the level of 1525.

  • AUDUSD

 

As could be seen on the chart above that the pair is traded below a strong resistance level that is 0.6900. We can go short in case the pair shows up some bearish evidence below this level. Our first target is: 0.6830.

 

Resistance levels: Support levels: Recommended:

▪ 0.7550
▪ 0.7600
▪ 0.7000

▪ 0.6680
▪ 0.6650
▪ -

We are bearish.
  • GBPJPY

 

The chart above shows that the pair is traded above a strong support level that is 131. Therefore, we are bullish as long as the pair is traded above it. Our first target is 135.

 

Resistance levels: Support levels: Recommended:
▪ 135
▪ 136
▪ 136.50

▪ 132
▪ 131
▪ 130

We are bullish.

 

Disclaimer: The information contained in this publication is produced by Land Prime and not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects Land Prime current judgment and may change without notice. This message is for information purposes only and is not intended as an offer, recommendation or solicitation to buy or sell, nor is it an official confirmation of terms. No representation or warranty is made that this information is complete or accurate. Any views or opinions expressed do not necessarily represent that Land Prime. This email and the information it contains may be confidential, proprietary or legally privileged. You must not, directly or indirectly, use, disclose, distribute, copy or store this message or any part of it if you are not the intended recipient. Unless otherwise stated, any pricing information given in this email is indicative only, is subject to changes and does not constitute an offer to deal at any price quoted.