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

01 October 2019

powered by Land Prime

Australian rate decision: Tuesday, 4:30. The Reserve Bank of Australia has left its interest rate unchanged at 1% in the past two meetings, after lowering it in both June and July. While the RBA has left its door open to further cuts down the road, it will likely hold its fire once again. Comments about the domestic and global economies will be of interest.

Euro-zone inflation: Tuesday, 9:00. Inflation was subdued in the euro area long before the recent slowdown – but that economic softness has further depressed price rises. The preliminary Consumer Price Index for September will likely remain around 1% that was recorded in August. Core CPI – which is garnering more and more attention – is set to hover around 0.9% recorded beforehand. Any deterioration may weigh on the euro.

Canadian GDP: Tuesday, 12:30. Canada publishes Gross Domestic Product figures on a monthly basis – allowing a close follow up of the economy. Growth has exceeded expectations in the past four months. The most recent figure for June showed an expansion of 0.2%. The upcoming publication provides a first look into the third quarter.

 

 

AUD
Australian rate decision

EUR
Euro-zone inflation

CAD
Canadian GDP

  • EURUSD

 

The chart above shows that the pair is traded below a strong resistance level that is 1.0926. Therefore, we are bearish as long as the pair is traded below it. Our first target is 1.0838.

 

Resistance levels: Support levels: Recommended:
▪ 1.1242
▪ 1.1180
▪ 1.0926		 ▪ -
▪ -
▪ 1.0838

We are bearish as long as the pair is traded below the level of 1.0926
  • GBPUSD

 

The pair is traded below a strong resistance level that is 1.2300. Therefore, we are bearish as long as the pair is traded below it. Our first target is 1.2150 Conditioned by the continuation of trading below the level of 1.2300

 

Resistance levels: Support levels: Recommended:
▪ 1.36
▪ 1.3310
▪ 1.2550		 ▪ -
▪ -
▪ 1.2150

We are bearish as long as the pair is traded below the level of 1.23

  • GOLD

 

The pair managed to breakthrough a strong support level that is 1490. Therefore, we are bearish as long as the pair is traded below it. Our first target is 1410.

 

Resistance levels: Support levels: Recommended:
▪ 1550
▪ 1540		 ▪ 1450
▪ 1430
▪ 1425		 We are bearish as long as the pair is traded below the level of 1490.

  • AUDUSD

 

As could be seen on the chart above that the pair is traded above a strong support level that is 0.6680. We can go long in case the pair shows up some bullish evidence above this level. Our first target is: 0.6900.

 

Resistance levels: Support levels: Recommended:

▪ 0.7550
▪ 0.7600
▪ 0.7000

▪ 0.6680
▪ 0.6650
▪ -

We are bullish.
  • GBPJPY

 

The chart above shows that the pair is about to reach a strong support level that is 131 Therefore, we are bearish. Our first target is 130.77.

 

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

▪ 132
▪ 131
▪ 130

We are bearish

 

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