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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

06 December 2019

powered by Land Prime

US Non-Farm Payrolls: Friday, 13:30. The US economy gained 128,000 jobs in October, below the long-running averages but above low expectations, stemming from the strike at General Motors. Moreover, revisions for previous months showed that job growth was considerably better than initially reported, as upward revisions added 95,000 to the count of the US workforce. While monthly wage growth came out at only 0.2%, earnings rose by 3% yearly, an encouraging outcome. Headline NFP is set to rise by 183K, monthly wage growth by 0.3% and annual salary increase by 3%.

Canadian jobs report: Friday, 13:30. After benefiting from blockbuster labor market figures during most months in 2019, Canada lost 1,800 positions in October, worse than expected. The nation likely returned to net gains in November, with a projected gain of 15.9K The unemployment rate remained at 5.5% and carries expectations for a rise to 5.6%.

US Consumer Sentiment: Friday, 15:00. The dust will not have settled from the NFP when the preliminary Consumer Sentiment figures from the University of Michigan are released. The forward-looking gauge is released early in December, ahead of the Christmas holiday. After falling in September, confidence recovered and topped 95 points in November. A marginal decrease to 96.5 is on the cards.

 

 

CAD
Canadian jobs report

USD
US Non-Farm Payrolls

US Consumer Sentiment

  • EURUSD

 

Update: We remain the same. The pair is about to reach a strong resistance level that is the downtrend line shown on the chart in red. Therefore, we will be waiting for some bearish evidence to show up then we can go short targeting the level of 1.0990 during the week. On the other hand, breaching the downtrend line to the upside can open the door for further upward movement during the week that it might reach the level of 1.1300.

 

Resistance levels: Support levels: Recommended:
 1.1500
1.1400
▪ 1.1300
▪ 1.0993
 1.0900
 1.0850

We are bearish as long as the pair is traded below the downtrend line.

  • GBPUSD

 

Update: The pair has reached the resistance level. Waiting for bearish evidence to show up. The chart above shows that the pair is about reaching a strong resistance level that is 1.3177. Therefore, we will be waiting for the pair to reach that level then in case it shows up bearish evidence, we can go short targeting the level of 1.3000. On the other hand, breaching the above-mentioned resistance level, can open the door for an upward movement during the week that it might reach the level of 1.3300.

 

Resistance levels: Support levels: Recommended:
▪ 1.3300
 1.3200
▪ 1.3177
 1.2982
 1.2900
 1.2850

Wait for the pair to reach the resistance level.

  • GOLD

 

Update: The pair is traded in a very tight range so we remain the same. The chart above shows that the pair is traded within a descending channel. It is traded just right below the upside of the channel. Therefore, we will be waiting for bearish evidence to show up below it, then we can go short targeting the level of 1470 followed by 1465. On the other hand, a daily close above the upside of the channel can enhance the chances that the pair might reach the level of 1500 followed by 1510.

 

Resistance levels: Support levels: Recommended:
 1510
 1500
 1470
 1465
 1455
We are bearish as long as the pair is traded below the upside of the bearish channel.

  • AUDUSD

 

Update: We remain the same. The chart above shows that the pair is traded below a strong resistance level that is the downtrend line. In case the pair shows up bearish evidence below it, we can go short targeting the level of 0.6730 followed by 0.6695. On the other hand, breaking the downtrend line to the upside, can open the door for further upward movements during the week that it might reach the level of 0.7000.

 

Resistance levels: Support levels: Recommended:

▪ 0.7123
0.7050
▪ 0.
7000

▪ 0.6730
0.6695
▪ 0.6672

We are bearish as long as the pair is traded below the downtrend line.

  • GBPJPY

 

Update: The pair is about to reach the resistance level as expected. The pair managed to break through a strong resistance level that is 141.46. Therefore, we are bullish as long as the pair is traded above it. Our first target is 143.80.

 

Resistance levels: Support levels: Recommended:
144.50
 144
 143.80

 141.46
141
 140.60

Follow the scenarios


 

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