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

22 April 2020

powered by Land Prime

UK Inflation: Wednesday, 6:00. With economic activity sharply lower, inflation levels are expected to fall. CPI edged lower to 1.7% in February, down from 1.8%. The estimate for March stands at 1.5%. Core CPI rose to 1.7%, up from 1.6%, The March forecast is 1.6%.

Canadian Inflation: Wednesday, 12:30. Consumer inflation rose 0.4% in February, up from 0.3%, This marked its highest level since July. The core figure improved to 0.7%, up from 0.4% a month earlier. Will the upswing continue in the upcoming release?

U.S. Unemployment Claims: Wednesday, 12:30. Jobless claims was above 5-million last week, and analysts are bracing for another huge number, as the Covid-19 outbreak has locked down millions of employees.

U.S. Manufacturing PMI: Wednesday, 12:30. Manufacturing PMI in March slowed to 49.1, falling below the 50-level which separates contraction from expansion. We now await the initial reading for April.

 

 

CAD
Canadian Inflation

GBP
UK Inflation

USD
U.S. Unemployment Claims
U.S. Manufacturing PMI

  • EURUSD

 

Update: We remain the same. As could be seen on the chart above that the pair is traded below a strong resistance level that is the downtrend line. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.0740. On the other hand, if the pair breached the uptrend line. We can go long targeting the level of 1.0940.

 

Resistance levels: Support levels: Recommended:
▪ 1.1050
▪ 1.1000
▪ 1.0940		 ▪ 1.0740
▪ 1.0700
▪ 1.0680

We are bearish as long as the pair is trading below the downtrend line.
  • GBPUSD

 

Update: We remain the same. As could be seen on the chart above that the pair is trading below a strong resistance level that is 1.24. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.2150

 

Resistance levels: Support levels: Recommended:
▪ 1.2450
▪ 1.2430
▪ 1.2400		 ▪ 1.2200
▪ 1.2150
▪ 1.2100

We are bearish as long as the pair is trading below 1.2400.

  • GOLD

 

Update: On its way to its first target. The chart above shows that the pair is trading above a strong support level that is the downside of the bearish channel shown on the chart in blue. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1700 followed by 1720.

 

Resistance levels: Support levels: Recommended:
▪ 1720
▪ 1710
▪ 1700		 ▪ 1655
▪ 1650
▪ 1640		 We are bullish as long as the pair is trading above the downside of the pattern.

  • AUDUSD

 

Update: We remain the same. The chart above shows that the pair is trading above a strong support level that is 0.6258. Therefore, we are bullish as long as the pair is trading above it. Our first target is 0.63. On the other hand, if the level of 0.6258 is broken, we can go short targeting the level of 0.6200

 

Resistance levels: Support levels: Recommended:

▪ 0.6350
▪ 0.6300
▪ 0.6290

▪ 0.6258
▪ 0.6230
▪ 0.6200

We are bullish as long as the pair is trading above the level of 0.6258.
  • GBPJPY

 

Update: No changes. As could be seen on the chart above that the pair is trading below a strong resistance level that is the downtrend line. Therefore, we are bearish as long as the pair is trading below it. Our first target is 131

 

Resistance levels: Support levels: Recommended:
▪ 135.00
▪ 134.50
▪ 134.00

▪ 131.00
▪ 130.50
▪ 130.00

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

 

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