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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

16 August 2017

powered by Land Prime

 

 

US housing data: Wednesday, 12:30. Building permits are on the rise, reaching an annualized level of 1.28 million in June. A small slide to 1.24 million is expected. Housing starts also look good with 1.22 million and a repeat is on the cards. For a meaningful reaction, we would need both measures to go in the same direction.

 

FOMC Meeting Minutes: Wednesday, 18:00. These are the minutes from the July decision. The Fed tried not rocking the boat, avoiding any hints about another rate hike this year and the statement was eventually perceived as dovish. As the meeting was not accompanied by a press conference, the meeting minutes will provide further insights into the Fed’s thinking.


USD
US housing data

  • EURUSD



Update: We remain the same.
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: Still traded above the uptrend line.
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



Update: the pair managed to break through the level of 1274.
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



Update: we remain the same.
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: still traded below the broken uptrend line.
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..