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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

15 August 2017

powered by Land Prime

 

 

German GDP: Tuesday, 6:00. The largest economy in Europe enjoyed a quarterly growth rate of 0.6%, in line with European growth in that quarter. We already have an initial number for euro-zone GDP in Q2, but it did not take the German economy into account. We will now see how Germany fared. A robust growth rate of 0.7% is projected.

 

UK inflation data: Tuesday, 8:30. Brexit sent the pound lower and in turn, prices are rising and triggered talk of a rate hike by the BOE. However, the recent slide to 2.6% and some doubts from the BOE trigger doubts if we will see a rate hike anytime soon. CPI is key for the next moves of Sterling. Headline CPI is expected to rise by 2.7% y/y.

 

US retail sales: Tuesday, 12:30. The US economy leans heavily towards consumption. In June, all measures of retail sales disappointed: headline sales dropped by 0.2% and so did core sales. Will we see a rebound this time? The report for July will also shape GDP growth expectations for Q3. Headline retail sales are predicted to rise by 0.3% while core sales carry expectations for 0.4% and so does the control group.

GBP
UK inflation data

USD
US retail sales

  • EURUSD



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



The pair managed to break through a strong support level that could be found around the level of 1.2955 and it may continue going down to reach the uptrend line. So, we will be waiting for the pair to show some positive factors then we may go long targeting the level of 1.3100 during the week. On the other hand, breaching the uptrend line will open the door for further downward movements during the week.

  

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

 ▪ 1.2900
▪ 1.2800
▪ 1.3000

The chances of bearish movements are very high to the uptrend line
  • GOLD



The pair is traded below a strong resistance level that could be found around the level of 1300. So we believe as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1250 during the week. This is condition by the breakout of the level of 1274.


Resistance levels: Support levels: Recommended:
▪ 1280
▪ 1290		 ▪ 1245
▪ 1210
▪ 1200

Waiting for the level of 1274 to be broken.
  • AUDUSD



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



The pair managed to break through the uptrend line and it is traded now right below it. So, we believe that as long as the pair is traded below the uptrend line it may continue going down to reach the level of 139 during the week.

 

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

▪ 139
▪ 138

We remain bearish as long as the pair is traded below the broken uptrend line.