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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

05 October 2017

powered by Land Prime

 

 

US GDP (first release): Friday, 12:30. After a poor start to 2017, US growth picked up in Q2 and reached 3.1% annualized. A somewhat slower growth rate is expected in Q3, partly due to the hurricanes. This is the first release out of three, with two revisions pending. Nevertheless, this initial publication has the biggest impact. An annualized growth rate of 2.7%is on the cards.

USD
US GDP (first release)
 

  • EURUSD



Update: The pair started going down as expected. The neckline is broken now. As could be seen on the daily chart that the pair is traded below a strong resistance level (1.1890). 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 during the week. Also, breaching the level of 1.1660 can open the door for further downward movement during the week that it may reach the level of 1.1600 followed by 1.1500.

 

 

 

 

Resistance levels: Support levels: Recommended:
▪ 1.2000
▪ 1.2100
▪ 1.1890		 ▪-1.1650
▪ 1.1600

We remain bearish as long as the pair is traded below the level of 1.1890.
  • GBPUSD



Update: The pair may touch the uptrend line than a pullback is expected during the day. As could be seen on the chart above that the pair is about to reach the uptrend line shown in red on the chart. This is where we can go long. So, we will be waiting for the pair to reach the uptrend line then in case it shows up some positive factors we can go long targeting the level of 1.3250.



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

 ▪ 1.2990
▪ 1.2900
▪ 1.2800

Waiting for the pair to reach one the levels mentioned in the report.
  • GOLD



Update: Will the level of 1267 be broken? The pair has been traded above the level of 1267 and it managed to hold above it 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 followed by 1300 during the week.

 


Resistance levels: Support levels: Recommended:

▪ 1350
▪ 1305
▪ 1300

 ▪ 1267
▪ 1260

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



Update: Our weekly target has been hit. The pair managed to break through a strong support level at 0.7750 so it may continue going down to reach the level of 0.7692.

 

 

Resistance levels: Support levels: Recommended:
▪ 0.8100
▪ 0.8060
▪ 0.7940
 ▪ 0.7600
▪ 0.7500

We remain bearish as long as the pair is traded below the level of 0.7750
  • GBPJPY



Update: Still traded above the uptrend line. As could be seen on the chart above that the pair is traded above a strong uptrend line so the pair may continue going up to reach the level of 152 during the week.

 

 

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

▪ 148
▪ 147

Expected to show more bearish pressures.

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