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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 September 2017

powered by Land Prime

 

 

US retail sales: Friday, 12:30. Consumption is key to the US economy. After a few mediocre months, the report for July included healthy increases in spending as well as upwards revisions. Headline retail sales are predicted to rise by a modest 0.1% after 0.6% beforehand.  Core retail sales carry expectations for 0.5%, a repeat of the number seen in the previous month. 

US consumer confidence: Friday, 14:00. This is the early version of the preliminary survey by the University of Michigan for September. After a score of 96.8 in August’s final read, a small slide to 95.3 is on the cards.

USD
US retail sales
US consumer confidence

 

  • EURUSD



Update: We remain the same. As could be seen on the chart above that the pair is traded within an ascending channel. The pair is traded right now above the downside of the pattern.  Also, the pair is traded above a strong support level that could be found at 1.1900. We believe that as long as the pair is traded above these levels, it is highly recommended to go long targeting the level of 1.2000 followed by 1.2100. On the other hand, breaching the level of 1.1850 can open the door for further downward movement during the week.

 

 

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 1.1850.
  • GBPUSD



Update: Our target at 1.3400 was hit. The level of 1.3250 has been broken so this may help the GBP to gain value against the USD that it may reach the level of 1. 3400. On the other hand, if the level of 1.3250 is broken, then the way would be open for the pair for further upward movement during the week.

 



Resistance levels: Support levels: Recommended:
▪ 1.3300
▪ 1.3400

 ▪ 1.3000
▪ 1.2800
▪ 1.2700

We remain bullish as long as the pair is traded above the level of 1.3250.
  • GOLD



Update: The pair managed to hit its target at 1320. Bearish pressures are expected as long as the pair is traded below the level of 1375. The pair may continue going down to reach the level of 1320 followed by 1300 during the week. This is conditioned by the continuation of trading below the level of 1375.

 


Resistance levels: Support levels: Recommended:

▪ 1350
▪ 1340
▪ 1375

 ▪ 1300
▪ 1210
▪ 1200

We remain bearish as long as the pair is traded below the level of 1375.
  • AUDUSD



Update: The target of 0.9750 was hit. The pair showed a bearish candle (shooting star) below the level of 0.8060. This could cause further downward movement during the week as long as the pair is traded below 0.8060. Our targets: 0.8000 followed by 0.7950.

 

Resistance levels: Support levels: Recommended:
▪ 0.8100
▪ 0.8060		 ▪ 0.8000
▪ 0.7600
▪ 0.7500

Expected to show bullish pressures
  • GBPJPY



The pair managed to go through a strong resistance level at 148. We will be waiting for the pair to close above that level so the breakout is confirmed.

 

 

Resistance levels: Support levels: Recommended:
▪ 152
▪ 151
▪ 

▪ 148
▪ 147

Expected to show more bearish pressures.