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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

19 February 2020

powered by Land Prime

RBA Monetary Policy Minutes: Wednesday, 0:30. The RBA minutes will provide details of the policy meeting from earlier this month. At the meeting, policymakers maintained rates at 0.75%, but the bank is under pressure to lower rates, as the Australian economy is feeling the chills from coronavirus.

UK Inflation: Wednesday, 9:30. The weak British economy has been unable to generate much in the way of inflation. CPI slipped to 1.3% in December, shy of the estimate of 1.5%. This was the lowest monthly level since November 2016. Analysts expect CPI to climb to 1.7% in January. Core CPI, which excludes the most volatile items which make up CPI, slipped to 1.4% in December, shy of the estimate of 1.7%. The forecast for January stands at 1.5%.

Canadian CPI: Wednesday, 13:30. Inflation remains muted, as the headline reading has managed only one gain in the past five releases. The forecast for January stands at 0.3%, compared to 0.0% in December.

 

 

AUD
RBA Monetary Policy Minutes

GBP
UK Inflation

CAD
Canadian CPI

  • EURUSD

 

The chart above shows that the pair is traded below a strong resistance level that is1.0850. Therefore, we are bearish as long as the pair is traded below it. Our first target is 1.0750

 

Resistance levels: Support levels: Recommended:
 1.1150
1.1100
▪ 1.0850
▪ 1.0800
 1.0750
 1.0720

We are bearish as long as the pair is traded below the level of 1.0850

  • GBPUSD

 

As could be seen on the chart above that the pair is traded below a strong resistance level that is 1.3000. Therefore, we are bearish as long as the pair is traded below it. Our first target is 1.2890

 

Resistance levels: Support levels: Recommended:
▪ 1.3400
 1.3350
▪ 1.3000
 1.2900
 1.3000
 1.2850

We are bearish as long as the pair is traded below the level of 1.3000.

  • GOLD

 

As could be seen on the chart above that the pair is traded above a strong support level that is 1595. Therefore, we are bullish as long as the pair is traded above it. Our first target is 1615.

 

Resistance levels: Support levels: Recommended:
 1620
 1615
 1595
 1565
 1555
We are bullish as long as the pair is traded above the level of 1595

  • AUDUSD

 

As could be seen on the chart above shows that the pair is traded above a strong support level that is 0.6660. Therefore, we are bullish as long as the pair is traded above it. Our first target is 0.6740. On the other hand, if the level of 0.6660 is broken, the pair might continue going downwards that is might reach the level of 0.6625

 

Resistance levels: Support levels: Recommended:

▪ 0.7123
0.6988
0.6740

▪ 0.6660
0.6630
▪ 0.6600

We are bullish as long as the pair is traded above 0.6660.

  • GBPJPY

 

The chart above shows that the pair is traded below a strong resistance level that is 144.17. Therefore, we are bearish as long as the pair is traded below it. Our first target is 142.30 followed by 141.50. On the other hand, if the level of 144.17 is broken to the upside by at least a daily close, then the way would be open for the pair to reach 145

 

Resistance levels: Support levels: Recommended:
146.50
 146.00
 144.20

 141
140.50
 140.00

We are bearish as long as the pair is traded below 144.17


 

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