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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

13 September 2019

powered by Land Prime

US retail sales: Friday, 12:30. The US consumer has been on a roll in July, with headline sales jumping by 0.7% and core sales by 1%. Consumer confidence measures for August have been mixed, indicating a weaker volume of sales in August. The data also feeds into the Fed decision in the following week.

US Consumer Confidence: Friday, 14:00. The final version of the University of Michigan’s consumer sentiment measure for August has fallen below 90 points – the lowest since October 2016. Consumption has held the economy up in recent months, and worrying forward-looking indicators may trigger further action from the Fed. he preliminary data for September will be watched very closely.

 

USD
US retail sales
US Consumer Confidence

  • EURUSD

 

Update: No bearish evidence has shown up. 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

 

Update: The strong resistance level has been broken. 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

 

Update: We remain bearish. 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

 

Update: We remain bearish. 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

 

Update: Target is about to be hit. 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.

 

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