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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

22 June 2017

powered by Land Prime

 

 

US jobless claims: Thursday, 12:30. This weekly barometer of the US jobs markets looks very stable and going in the right direction. A drop to 237K was seen recently. A similar number is on the cards: 241K is predicted. Contrary to previous releases, this time the publication stands on its own.

 

USD
US Jobless claims
  • EURUSD


Update: the pair is traded in a very narrow range so we remain the same. As could be seen on the chart above that the pair is traded below a strong resistance level around 1.1300. It also matches a Fibonacci level of 0.386 (From 14.10.2014 to 03.01.2017). So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.1200 followed by 1.1100 during the week. On the other hand, if the level of 1.1300 is broken (by at least a daily close) then the way would be open for the pair to reach 1.1400.

Resistance levels: Support levels: Recommended:
▪ 1.1275
▪-1.1300
▪ 1.1350		 ▪ 1.1200
▪-1.1150
▪ 1.1100

We remain bearish as long as the pair is traded below the level of 1.1272.
  • GBPUSD



Update: the pair did not manage to reach the level of 1.2900. it went down and broke through the level of 1.2750 so we believe that as long as the pair is traded below it, we might go short targeting the level of 1.2600. Also, we would remain keep the weekly scenario in case that the pair reaches the level of 1.2900 The pair may continue going up to reach the level of 1.2900 then a pullback is expected. Therefore, there is nowhere to enter the market at the time, we will be waiting for the pair to reach the level of 1.2900 then we can go short.


Resistance levels: Support levels: Recommended:
▪ 1.3000
▪-1.3100
▪ 1.2900		 ▪ 1.2750
▪ 1.2700
▪ --

We remain bearish as long as the pair is traded below the level of 1.3000
  • GOLD

 

Update: the pair is in the process of retesting the broken level of 1250. As could be seen on the chart that the pair is traded above a strong support level that could be found around the level of 1250. So, we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1300 during the week. On the other hand, breaching the level of 1250 will open the door for further downward movement during the week.



Resistance levels: Support levels: Recommended:
▪ 1350
▪ 1300
▪ 1290		 ▪ 1250
▪ 1220
▪ 1200

We remain bullish as long as the pair is traded above the level of 1250
  • AUDUSD


Update: the pair managed to go down but once it touched the level of 0.7550 it went up again so we remain bullish. As could be seen on the chart above that the pair is traded right above a strong support level that could be found around 0.7550 so we believe that as long as the pair is traded above it, the way would be open for the pair to reach the level of 0.7700 during the week.

Resistance levels: Support levels: Recommended:
▪ 
▪ 0.7600
▪-0.7700		 ▪ 0.7500
▪ 0.7550
▪ 0.7250

We remain bullish as long as the pair is traded above the level of 0.7550
  • GBPJPY


Update: the pair has started going up so we remain bullish as long as it is traded above the uptrend line. As could be seen on the chart that the pair is traded right above a strong support level which is the uptrend line in red. So, we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 144 during the week.

 

Resistance levels: Support levels: Recommended:
▪ 144
▪ 145
▪ 146

▪ 142
▪ 141
▪ 140

We remain long as long as the pair is traded above the uptrend line.