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

07 May 2020

powered by Land Prime

BoE Rate Decision: Thursday, 6:00. The BoE is expected to maintain the official bank rate of 0.10%, which the bank cut the rate from 0.25 percent in March. Investors will be keeping a close look at the monetary policy summary, which may contain hints of future monetary moves.

U.S. Unemployment Claims: Thursday, 12:30. U.S jobless claims has been dropping, but remains at staggering levels. The indicator came in at 3.8 million last week and the upcoming estimate is 3.0 million.

Canadian Ivey PMI: Thursday, 14:00. The Canadian economy is contracting, and this was reflected in the March reading, as the PMI slowed to 26.0, down from 54.1 points. Analysts had projected a reading of 50.1, just above the 50.0 level, which separates contraction from expansion. The April reading stands at 24.3 points.

 

 

GBP
BoE Rate Decision

USD
U.S. Unemployment Claims

CAD
Canadian Ivey PMI

  • EURUSD

 

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 1.0800. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1.0875. On the other hand, if the pair breached the level 1.0800. We can go short targeting the level of 1.0730.

 

Resistance levels: Support levels: Recommended:
▪ 1.0950
▪ 1.0900
▪ 1.0875		 ▪ 1.0800
▪ 1.0730
▪ 1.0700

We are bullish as long as the pair is trading above the level of 1.0800.
  • GBPUSD

 

Update: We remain the same. The chart above shows that the pair is about reaching a strong support level that is 1.2320. If the pair shows up bullish evidence above it, we can go long targeting the level of 1.2400. On the other hand, if the level of 1.2320 is broken, then the pair might continue going downwards to reach the level of 1.2220.

 

Resistance levels: Support levels: Recommended:
▪ 1.2450
▪ 1.2430
▪ 1.2400		 ▪ 1.2320
▪ 1.2300
▪ 1.2220

Waiting for the pair to confirm its next movement.

  • GOLD

 

Update: The upside has been broken. Therefore, we are bullish First target 1720. The chart above shows that the pair is trading within a symmetrical triangle. Therefore, we will be waiting for the pair to reach the downside. In case it shows up bullish evidence above it, we can go long targeting the level of 1700.

 

Resistance levels: Support levels: Recommended:
▪ 1720
▪ 1710
▪ 1700		 ▪ 1700
▪ 1690
▪ 1680		 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 below a strong resistance level that is 0.6500. Therefore, we are bearish as long as the pair is trading below it. Our first target is 0.64. On the other hand, if the level of 0.65 is broken, we can go long targeting the level of 0.6640

 

Resistance levels: Support levels: Recommended:

▪ 0.6600
▪ 0.6550
▪ 0.6500

▪ 0.6200
▪ 0.6150
▪ 0.6100

We are bearish as long as the pair is trading below the level of 0.65.
  • GBPJPY

 

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 132.30. Therefore, we are bearish as long as the pair is trading below it. Our first target is 129.00

 

Resistance levels: Support levels: Recommended:
▪ 133.00
▪ 132.30
▪ 132.00

▪ 129.00
▪ 128.50
▪ 128.00

We are bearish as long as the pair is traded below the level of 132.30

 

Disclaimer: The information contained in this publication is produced by Land Prime and not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects Land Prime current judgment and may change without notice. This message is for information purposes only and is not intended as an offer, recommendation or solicitation to buy or sell, nor is it an official confirmation of terms. No representation or warranty is made that this information is complete or accurate. Any views or opinions expressed do not necessarily represent that Land Prime. This email and the information it contains may be confidential, proprietary or legally privileged. You must not, directly or indirectly, use, disclose, distribute, copy or store this message or any part of it if you are not the intended recipient. Unless otherwise stated, any pricing information given in this email is indicative only, is subject to changes and does not constitute an offer to deal at any price quoted.