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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

18 May 2017

powered by Land Prime

 

 

Australian jobs report: Thursday, 1:30. Australia gained no less than 60.9K jobs in March, far better than expected. Will we a setback now? The unemployment rate remained at 5.9% despite this improvement, but that is due to the rise in the participation rate. A modest gain of 5.2K is estimated and the unemployment rate will likely stay at 5.9%.

US jobless claims: Thursday, 12:30. The weekly gauge of the US job market has been stable of late. A small rise from 236K to 240K is expected. Note that this week’s report is accompanied by the Philly Fed Manufacturing Index for May with a drop from 22 to 18.9 expected.

AUD 
Australia jobs report
USD
US jobless claims
  • EURUSD

Update: We remain the same. The pair managed to break through a very strong resistance level around 1.1000 along with the upside of the ascending channel shown on the chart. These breakouts may lead to further upward movements during the day that the pair may reach the level of 1.1190 (which is 61.8 Fibonacci of the movement between 23.08.2016 peak and 03.01.2017 trough).


Resistance levels: Support levels: Recommended:
▪ 1.1200
▪ 1.1190
▪ 1.1250		 ▪ 1.1000
▪-1.0950
▪ 1.0900		 We remain bullish as long as the pair is traded above the level of 1.1000
  • GBPUSD

The pair is traded right below the upside of the ascending channel shown on the chart above. This is actually a bearish sign. At the same time, we found a bullish sign on a smaller time frame that may cause the pair to go up targeting the level of 1.3000. After reaching this level, we will be very close to the bearish level we mentioned above (the upside of the ascending channel).


Resistance levels: Support levels: Recommended:
▪ 1.3100
▪-1.3000
▪ --		 ▪ 1.2850
▪ 1.2800
▪ --

We remain bearish as long as the pair is traded below the upside of the ascending channel.

  • GOLD

The pair reached the level of 1250 which was our expected key level for yesterday. Reaching the level of 1250 opens the door for the pair for further upward movements during the day that it may reach the down trendline shown on the chart above.

Resistance levels: Support levels: Recommended:
▪ 1265
▪ 1260
▪ 1270		 ▪ 1230
▪ 1220
▪ 1200		 We remain bearish as long as the pair is traded below the level the down trendline
  • AUDUSD

Update: Will the pair break through the level of 0.4750? This will be bullish for the pair and may help the AUD the gain value against the USD that it may reach the level of 0. 4500.The pair is traded below a strong resistance level that could be found around 0.7450. Generally, the chart shows a very bearish trend but there is nowhere now to enter the market unless it reaches the level of 0.7450 which is a good level to go short targeting the level of 0.7400 followed by 0.7350.


Resistance levels: Support levels: Recommended:
▪ 0.7450
▪ 0.7500
▪-0.7550		 ▪ 0.7400
▪ 0.7350
▪ 0.7300

We remain bearish as long as the pair is traded below the level of 0.7450.
  • GBPJPY

Yesterday's targets were hit. As for today, the pair is traded below a strong resistance level around 144.50. So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 144 during the day. On the other hand, breaching the level of 144.50 will open the door for the pair to reach the level of 145.50 during the day.


Resistance levels: Support levels: Recommended:
▪ 147.17
▪ 145.50
▪ 144.50

▪ 144
▪ 143.50
▪ 143

 We remain bearish as long as the pair is traded below the level of 144.50