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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

09 February 2017

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US Unemployment Claims: The number of Americans filing new claims for unemployment benefits declined more than expected for the week ended Jan. 28, suggesting the strong employment market will continue to support the US economy this year. New claims fell 14,000 to 246,000. The labor market is nearing full employment and wages are expected to grow and support the economy. Economists expected jobless benefits would reach 251,000. Economists expect new claims will reach 249,000 this week.

USD
US Unemployment Claims
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  • EURUSD

Having the pair traded below the level of 1.0730 along with the broken uptrend line (acts as a strong resistance level) this can help the USD to gain value against the EURO that the pair may reach the level of 1.0620 during the day.

Resistance levels: Support levels: Recommended:
▪ 1.0730
▪--
▪ --		 ▪ 1.0620
▪--
▪ --		 We remain bearish as long as the pair is traded below the level of 1.0730.
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  • GBPUSD

Yesterday's SCENARIO IS STILL ACTIVE. The pair is traded above a strong support level around 1.2420 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1.2500 during the day. If the pair breaks through the level of 1.2400 then the way would be open for the pair to reach the level of 1.2300.

Resistance levels: Support levels: Recommended:
▪ 1.2500
▪--
▪ --		 ▪ 1.2400
▪1.2300
▪ --		 We remain bullish as long as the pair is traded above the level of 1.2500
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  • GOLD

We have two SCENARIOS for today; we can find a strong resistance level around 1242 that was our target for yesterday. This level can act as a very strong wall that if it is broken