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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

14 February 2020

powered by Land Prime

Eurozone Flash PMIs: Friday, 8:15 in France, 8:30 in Germany, and 9:00 for the whole eurozone. Markit’s forward-looking guidance figures for January showed growth in the services sector, but pointed to continuing contraction for German and eurozone manufacturing PMIs. Both of these manufacturing PMIs are expected to weaken in February, with estimates of 47.4 and 44.8, respectively.

Canadian Retail Sales: Friday, 13:30. Retail sales jumped 0.9% in November, its strongest gain since March. However, this appears to have been a temporary spike, as analysts expect a small gain for 0.1% for December. The core reading is expected to improve to 0.4%, compared to 0.2% in the previous release.

U.S. Manufacturing PMI: Friday, 14:45. The PMI has been slightly above the 50-level, which separates contraction and expansion. Little change is expected in the February release, with an estimate of 51.5 points.

 

 

EUR
Eurozone Flash PMIs

CAD
Canadian Retail Sales

USD
U.S. Manufacturing PMI:

  • EURUSD

 

Update: We remain bearish. Nothing can stop the Euro from going further downwards. The chart above shows that the pair might continue going downwards to hit 1.0800.

 

Resistance levels: Support levels: Recommended:
 1.1150
1.1100
▪ 1.1090
▪ 1.0800
 1.0750
 1.0730

Strongly bearish

  • GBPUSD

 

Update: No changes! The chart above shows that the pair is trading above a strong support level 1.2890. Therefore, we are bullish as long as the pair is traded above it. Our first target is 1.31.

 

Resistance levels: Support levels: Recommended:
▪ 1.3400
 1.3350
▪ 1.3300
 1.2890
 1.2850
 1.2800

We are bullish as long as the pair is traded above 1.2890

  • GOLD

 

Update: Our target is about to be hit. The chart above shows that the pair might continue going upwards to reach the level of 1590. Therefore, we are bullish as long as the pair is traded above the level of 1560.

 

Resistance levels: Support levels: Recommended:
 1590
 1587
 1570
 1565
 1555
We are bullish as long as the pair is traded above the level of 1560

  • AUDUSD

 

Update: We remain the same. As could be seen on the chart above that the pair is traded above a strong support level that is 0.6680. Therefore, we are bullish as long as the pair is traded above it. Our first target is 0.6850.

 

Resistance levels: Support levels: Recommended:

▪ 0.7123
0.6988
0.6820

▪ 0.6680
0.6650
▪ 0.6600

We are bullish as long as the pair is traded above 0.6688.

  • GBPJPY

 

Update: We remain the same. The pair is about reaching the resistance level of 144.17. Therefore, we will be waiting for the pair to reach it then in case the pair shows up bearish evidence, we can go short targeting the level of 142.

 

Resistance levels: Support levels: Recommended:
146.50
 146.00
 144.20

 141
140.50
 140.00

Waiting for the pair to reach the resistance level.


 

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