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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

15 April 2020

powered by Land Prime

U.S. Retail Sales Reports: Wednesday, 12:30. Analysts are bracing for dismal releases in March. The headline reading is expected to fall by 8.0%, while the core figure is projected to decline by 5.0 percent. Consumers are holding tight to their purse strings in this time of uncertainty, and consumer spending is expected to have fallen sharply.

Bank of Canada Rate Decision: Wednesday, 14:00. The BoC made another rate cut at an unscheduled emergency cut. The bank slashed rates from 0.75% to 0.25%, as policymakers try to stabilize the economy, which has been hit hard by the Corvid-19 outbreak. The BoC is expected to maintain rates at the upcoming meeting.

 

 

USD
U.S. Retail Sales Reports

GBP
Bank of Canada Rate Decision:

  • EURUSD

 

As could be seen on the chart above that the pair is trading below a strong resistance level that is 1. 1000. Therefore, we are bearish as long as the pair is traded below it. Our first target is 1.0900. 2nd target is 1.0800.

 

Resistance levels: Support levels: Recommended:
▪ 1.1100
▪ 1.1080
▪ 1.1000		 ▪ 1.0880
▪ 1.0850
▪ 1.0800

We are bearish as long as the pair is traded below the level of 1.1000
  • GBPUSD

 

The chart above shows that the pair is about reaching a strong support level that is 1.2480. If the pair shows up bullish evidence above it, we can go long targeting the level of 1.2600. On the other hand, if the level of 1.2480 is broken, then the pair might continue going downwards to reach the level of 1.2400.

 

Resistance levels: Support levels: Recommended:
▪ 1.2650
▪ 1.2600
▪ 1.2500		 ▪ 1.2400
▪ 1.2350
▪ 1.2300

Waiting for the pair to confirm its next movement.

  • GOLD

The chart above shows that the pair is trading above a strong support level that is 1700. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1730.

 

Resistance levels: Support levels: Recommended:
▪ 1750
▪ 1730
▪ 1720		 ▪ 1700
▪ 1690
▪ 1680		 We are bullish as long as the pair is trading above the level of 1700.

  • AUDUSD

 

As could be seen on the chart above that the pair is trading within a bullish channel. Therefore, we will be waiting for the pair to reach the downside of the channel, and then we can go long targeting the level of 0.6500.

 

Resistance levels: Support levels: Recommended:

▪ 0.6600
▪ 0.6550
▪ 0.6500

▪ 0.6200
▪ 0.6150
▪ 0.6100

Waiting for the pair to reach the downside of the bullish channel.
  • GBPJPY

 

The chart above shows that the pair is trading below a strong resistance level that is 135.60. Therefore, we are bearish as long as the pair is traded below it. Our first target is 133 2nd target 132.40.

 

Resistance levels: Support levels: Recommended:
▪ 136.00
▪ 135.60
▪ 135.00

▪ 133.00
▪ 132.40
▪ 132.00

We are bearish as long as the pair is traded below the level of 135.60

 

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