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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

22 September 2017

powered by Land Prime

 

 

Canadian inflation data: Friday, 12:30. The Canadian dollar remains strong after a not-really-priced-in hike by the BOC, and hints about further increases. The Bank will be data-dependent and inflation remains key. Headline CPI remained flat in July while core CPI slipped by 0.1%. The BOC also publishes various other measures of changes in nonvolatile items. Common CPI advanced 1.4% y/y, the Median CPI rose by 1.7% and Trimmed CPI by 1.4%.

CAD
Canadian inflation data

 

  • EURUSD



Update: The pair is on its way to the level of 1.2100. 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 1.1834. 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 1.1800 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 1.1800.
  • GBPUSD



Update: We remain the same. As could be seen on the chart above that the pair is traded above a strong support level that could be found at 1.3450 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1.3650 followed by 1.3700 during the week. This is conditioned by the continuation of trading above the level of 1.3450.

 



Resistance levels: Support levels: Recommended:
▪ 1.3700
▪ 1.3650

 ▪ 1.3450
▪ 1.2800
▪ 1.2700

We remain bullish as long as the pair is traded above the level of 1.3450.
  • GOLD



Update: Yesterday's trading session is considered to be very bearish and the close is not enough to confirm the breakout of the level of 1292 so we will wait for today's close to confirm it. 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 1300 followed by 1295 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
▪ 1295
▪ 1200

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



Update: We remain bearish>> The pair went up in yesterday's trading session that it reached the level of 0.8100, then it bounced bearishly heading towards our first target at 0.7600. As could be seen on the chart above that the pair is traded below a strong resistance level at 0.8100 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 0.7650 during the week. This is conditioned by the continuation of trading below the level of 0.8100.

 

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

Expected to show bullish pressures
  • GBPJPY



Update: We remain the same. No changes. As could be seen on the weekly chart that the pair is traded above a strong support level that could be found at 150 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 154 followed by 155 during the week.

 

Resistance levels: Support levels: Recommended:
▪ 152
▪ 151
▪ 155

▪ 148
▪ 147

Expected to show more bearish pressures.