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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

12 October 2017

powered by Land Prime

 

 

US PPI: Thursday, 12:30. Changes to producer prices eventually reach consumers. Headline PPI rose by 0.2% in August while core PPI advanced by only 0.1%. Will we see stronger numbers this time? Headline PPI is expected to rise by 0.4% while the core number is predicted to advance by 0.2%. 

Mario Draghi talks: Thursday, 14:15. The President of the ECB will talk in a panel in Washington and may shed some more light on the upcoming decision to reduce its bond-buying scheme. Will he still express concern about the exchange rate? EUR/USD is lower since he voiced his complaints.

Lael Brainard talks: Thursday, 14:15. Brainard is a permanent voter in the FOMC and her opinions are in line with the majority. She could provide a valuable to the latest jobs report and more importantly, about the potential rate hike in December. 

Jerome Powell talks: Thursday, 14:30 and also Friday at 17:00. Powell is also a Fed Governor who rarely discusses monetary policy. Nevertheless, his words are of higher importance now as he is one of the candidates to head the Fed. In his previous appearance, Powell did not offer insights about interest rates.

USD
US PPI

EUR
Mario Draghi talks 

  • EURUSD



Update: still traded below the resistance level of 1.1834 along with the short term down trendline.
As could be seen on the chart above that the pair is traded below a strong resistance level that could be found at 1.1834 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.1660.

 

 

 

Resistance levels: Support levels: Recommended:
1.2000
 1.2100
 1.1840
1.1700
-1.1650
1.1600

We remain bearish as long as the pair is traded below the level of 1.1834.

  • GBPUSD



Update: No changes.
The pair is about to reach a strong support level (our base) that is where we can go long so we will be waiting for the pair to reach the uptrend line shown on the chart in red then if it shows some positive factors we can go long targeting the level of 1.3300 during the week.



Resistance levels: Support levels: Recommended:
1.3700
▪ 1.3650

▪ 1.3300
 1.3200
 1.2700

We remain bullish as long as the pair is traded above the uptrend line.

  • GOLD



Update: We remain bullish.
The pair is traded above a strong support level that can be found at 1267 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1290 during the week. On the other hand, if the level of 1267 is breached then we can go short targeting the level of 1260 followed by 1250.

 


Resistance levels: Support levels: Recommended:

1350
 1340
 1290

 1267
 1265
 1260

We remain bullish as long as the pair is traded above the level of 1267.

  • AUDUSD



Update: Still traded below the level of 0.7800 but today's close is very important.
The pair successfully managed to break through a strong support level 0.7800 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 0.7600 during the week.

 

 

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

We remain bearish as long as the pair is traded below the level of 0.7800.

  • GBPJPY



Update: On its way to reach the up trendline.
As could be seen on the daily chart that the pair is traded above a strong support level that is the uptrend line so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 150 followed by 151 during the week.

 

 

Resistance levels: Support levels: Recommended:
152
151
 155

148
 147

Expected to show more bearish pressures.