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

19 May 2020

powered by Land Prime

RBA Monetary Policy Meeting Minutes: Tuesday, 1:30. The RBA minutes will provide details of the policy meeting earlier this month. At that meeting, policymakers held the cash rate at 0.25 percent, noting the uncertainty over the outlook for the economy.

UK Employment Report: Tuesday, 6:00. Despite the mass lockdown due to Corvid-19, the British labor market remains relatively unscathed. Wage growth dipped to 2.8% in February, down from 3.1% in the previous release. This marked the lowest gain since August 2018. The downturn is expected to continue in March, with a forecast of 2.7 percent.  Unemployment claims actually fell in March, from 17.3 thousand to 12.1 thousand. Analysts had projected a huge decline of 170 thousand. We will now receive the April data.  The unemployment rate is expected to jump to 4.4%, up from 4.0 percent.

 

 

AUD
RBA Monetary Policy Meeting Minutes

GBP
UK Employment Report

  • EURUSD

 

The chart above shows that the pair is trading below a strong resistance level that is 1.1000. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.0875.

 

Resistance levels: Support levels: Recommended:
▪ 1.1050
▪ 1.1025
▪ 1.1000		 ▪ 1.0875
▪ 1.0850
▪ 1.0800

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

 

As could be seen on the chart above that the pair is trading below a strong resistance level 1.2300. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.2170.

 

Resistance levels: Support levels: Recommended:
▪ 1.2450
▪ 1.2430
▪ 1.2300		 ▪ 1.2170
▪ 1.2150
▪ 1.2100

We are bearish as long as the pair is trading below the level of 1.2300.

  • GOLD

 

As could be seen on the chart above that the pair is trading above a strong support level that is the uptrend line. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1750 followed by 1760.

 

Resistance levels: Support levels: Recommended:
▪ 1770
▪ 1760
▪ 1750		 ▪ 1720
▪ 1715
▪ 1710		 We are bullish as long as the pair is trading above the uptrendline.

  • AUDUSD

 

As could be seen on the chart above that the pair is trading below a strong resistance level that is 0.6600. Therefore, we are bearish as long as the pair is trading below it. Our first target is 0.6375 followed by 0.6530 followed by 0.6500.

 

Resistance levels: Support levels: Recommended:

▪ 0.6700
▪ 0.6650
▪ 0.6600

▪ 0.6530
▪ 0.6500
▪ 0.6480

We are bearish as long as the pair is trading below the level of 0.66.
  • GBPJPY

 

As could be seen on the chart above that the pair is trading below a strong resistance level that the downtrend line. Therefore, we are bearish as long as the pair is trading below it. Our first target is 130.50.

 

Resistance levels: Support levels: Recommended:
▪ 133.20
▪ 132.50
▪ 132.35

▪ 130.50
▪ 130.15
▪ 130.00

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

 

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