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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

17 August 2017

powered by Land Prime

 

 

Australian jobs report: Thursday, 1:30. After a few superb months, Australia saw a “normal” jobs report with 14K jobs gained. The unemployment stood at 5.6% in June. Full-time jobs were gained while part-time jobs were lost, adding a silver lining to the report. We now get the figures for July. 

US Philly Fed Manufacturing Index: Thursday, 12:30. This early indicator of the manufacturing sector disappointed with a drop to 19.5 points in July. The fresh data for August will be interesting to watch. Jobless claims are released at the same time, but they have been too stable of late. A score of 18.5 is forecast.


USD
US Philly Fed Manufacturing Index

AUD
Australian jobs report

  • 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: Yesterday's candle was bullish but very short. Also, the pair is 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 went back to the level of 1292 but still traded below the level of 1300 so we remain bearish. 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: The pair is still traded below the broken uptrend line- we remain bearish. 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.