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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

06 September 2017

powered by Land Prime

 

 

 

Australian GDP: Wednesday, 1:30. Australia’s GDP will also be eyed as a proxy for Chinese growth and to the global economy. In Q1, the economy grew by 0.3%. While this exceeded early expectations, it is not impressing in absolute terms. Economists expect a growth rate of 0.9% q/q in Q2 2017. 

US ISM Non-Manufacturing PMI: Wednesday, 14:00. This report for the services sector is usually published before the Non-Farm Payrolls and serves as an indicator. This time, it is published six days afterward, giving it space of its own. In July, ISM reported a disappointing drop in the indicator: 53.9, a drop of 3.5 points from June and lowest since August 2016. A reversion to higher levels is expected: 55.5 points. 

Canadian rate decision: Wednesday, 14:00. The Bank of Canada raised rates in July and also issued a hawkish statement. The C$ jumped before and after the decision. Since then, the Canadian dollar cooled down and the BOC is not seen as very eager to hike soon. This time, no change is expected, but the accompanying statement will be closely watched for hints about a hike in October.  All the options are on the table.


AUD
Australian GDP

USD
UK ISM Non-Manucfacturing PMI

CAD
Canadian rate decision

  • EURUSD



Update: Expected to show more bullish pressures. The pair is still consolidating after a strong bullish rally. It is also traded within an ascending channel. It is expected to show bullish pressures as long as the pair is traded above the downside of the ascending channel.

 

Resistance levels: Support levels: Recommended:
▪ 1.2000
▪ 1.2100		 ▪ 1.1900
▪-1.1850
▪ 1.1800

We remain bullish as long as the pair is traded above the level of 1.1900.
  • GBPUSD



The pair managed to break through the level of 1.3000 and the broken uptrend line again which is considered to be a bullish signal. The daily close (of today) will confirm the breakout of the levels mentioned above.



Resistance levels: Support levels: Recommended:
▪ 1.3200
▪ 1.3000

 ▪ 1.3000
▪ 1.2800
▪ 1.2700

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



Update: on its way to the level of 1350. Bullish pressures are expected as long as the pair is traded above the level of 1300. The pair managed to break through a strong resistance level (1300). This is a bullish sign that the pair may continue going up to reach the level of 1330 followed by 1350. This is conditioned by the continuation of trading above the level of 1300.


Resistance levels: Support levels: Recommended:
▪ 1350
▪ 1340		 ▪ 1300
▪ 1210
▪ 1200

We remain bullish as long as the pair is traded above the level of 1300
  • AUDUSD



Update: expected to show more bearish pressures. The pair may continue going up to reach the level of 0.8000 then a pullback is expected. 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 is traded right below a strong resistance level that can be found at 143.42. So, this is considered to be bearish for the pair that it may continue going down to reach the level of 141 followed by 140 during the week.

 

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

▪ 139
▪ 138

Expected to show more bearish pressures.