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

12 June 2020

powered by Land Prime

British GDP: Friday, 6:00. The British economy plunged 5.8% in March, as the economy buckled under the weight of the Covid-19 pandemic. Still, this was better than the forecast of 7.9 percent. Analysts are projecting a staggering -18.0% reading in April. If the economy does hit a double-digit decline, we could see the pound react negatively.

French Final CPI: Friday, 6:45. Inflation in the eurozone’s second-largest economy remains low. CPI has posted only one gain in the past four months and came in at a flat 0.0% in April. No change is expected in the May release.

British Consumer Inflation Expectations: Friday, 8:30. The indicator is closely watched, as inflation expectations can translate into actual inflation figures. The indicator dipped to 3.0% in Q4 of 2019, its lowest level since Q2 of 2018. We now await the Q1 data.

 

 

EUR
French Final CPI

GBP
British GDP
British Consumer Inflation Expectations

  • EURUSD

 

Update: Final target was hit. The chart above shows that the pair is trading below a strong resistance level that is 1.1377. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.1300 followed by 1.1250.

 

Resistance levels: Support levels: Recommended:
 1.1400
1.1377
▪ 1.1350
▪ 1.1300
 1.1280
 1.1240

We are bearish as long as the pair is trading below the level of 1.1377.

  • GBPUSD

 

Update: The target if the upside was hit and also the target of the downside was hit. As could be seen on the chart above that the pair is trading above a strong support level 1.2644. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1.2800. On the other hand, if the level of 1.2644 is broken, we can go short targeting the level of 1.2600

 

Resistance levels: Support levels: Recommended:
▪ 1.2850
 1.2800
▪ 1.2750
 1.2644
 1.2600
 1.2580

We are bullish as long as the pair is trading above the level of 1.2644.

  • GOLD

 

Update: Final target was hit. As could be seen on the chart above 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 1720 followed by 1740.

 

Resistance levels: Support levels: Recommended:
 1740
 1730
 1720
 1700
 1690
 1670
We are bullish as long as the pair is trading above the level of 1700.

  • AUDUSD

 

Update: Final target was hit. As could be seen on the chart above that the pair is trading below a strong resistance level that is 0.7000. Therefore, we are bearish as long as the pair is trading below it. Our first target is 0.6850 followed by 0.6830

 

Resistance levels: Support levels: Recommended:

▪ 0.7500
0.7300
0.7000

▪ 0.6880
0.6820
▪ 0.6800

We are bearish as long as the pair is trading below the level of 0.7000

  • GBPJPY

 

Update: Final target was hit. As could be seen on the chart above that the pair is trading below a strong resistance level that 137.40. Therefore, we are bearish as long as the pair is trading below it. Our first target is 135.00 followed by 134.25.

 

Resistance levels: Support levels: Recommended:
138.00
 137.40
 137.20

 135.00
134.25
 134.00

We are bearish as long as the pair is traded below the level of 137.40.


 

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.