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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

08 August 2017

powered by Land Prime

 

 

US JOLTS Job Openings: Tuesday, 14:00. The number of job openings serves as another indicator of the health of the job market. While it lags the NFP, the Fed told markets it is of high importance. After beating expectations for quite a few months, May’s number was a setback: a drop to 5.67 million annualized. A small gain is on the cards now. A similar level of 566K is expected now



USD
US JOLTS Job Openings


  • EURUSD



Update: still traded within the bearish candle. The pair is traded right below a strong resistance level that could be found at 1.1900 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.1600. On the other hand, breaching the level of 1.1600 would open the door for further downward movements during the week that the pair may reach the level of 1.1500.


Resistance levels: Support levels: Recommended:
▪ 1.1900
▪ 1.1800		 ▪ 1.1540
▪-1.1250
▪ 1.1200

We remain bullish as long as the pair is traded above the level of 1.1600.
  • GBPUSD



Update: Today's candle is very short so no strong movement to mention. The pair is traded within an ascending channel as could be seen on the chart above. So it may continue going down a little to the level of 1.3000 then a pullback is expected that it may reach the level of 1.3100 followed by 1.3300 during the week. On the other hand, breaching the level of 1.3000 can open the door for further downward movements during the day.

 

Resistance levels: Support levels: Recommended:
▪ 1.3200
▪ 1.3300

 ▪ 1.2900
▪ 1.2800
▪ 1.3000

We remain bullish as long as the pair is traded above the level of 1.3000
  • GOLD



Update: still traded within the bearish candle. Last week, the pair manage to form a bearish candle that is (bearish engulfing). It is also traded right below a strong resistance level at 1273. So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1245.


Resistance levels: Support levels: Recommended:
▪ 1270
▪ 1265		 ▪ 1245
▪ 1210
▪ 1200

We remain bearish as long as the pair is traded below the level of 1273
  • AUDUSD



Update: On its way to its first target. The pair is traded right below a strong resistance level that could be found at of 0.8000. So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 0.7800 followed by 0.7700. This is conditioned by the continuation of trading below the level of 0.8000.

Resistance levels: Support levels: Recommended:
▪ 0.8000
▪ 		 ▪ 0.7700
▪ 0.7600
▪ 0.7500

We remain short as long as the pair is traded below the level of 0.8000.
  • GBPJPY



Update: the pair is very close to the uptrend line. The level of 148 remains solid and we also have a strong support level that is the uptrend line shown on the chart in red. The pair may continue going down to reach the uptrend line, then a pullback is expected if it shows some positive factors to reach again the level of 148.

 

Resistance levels: Support levels: Recommended:
▪ 148
▪ 147.95
▪ 

▪ 145
▪ 142
▪ 140

Waiting for the pair to reach the up trendline.