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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

14 November 2017

powered by Land Prime

 

 

German GDP: Tuesday, 7:00. While we already received the first estimate of euro-zone GDP, this did not include the largest economy: Germany. The locomotive of the euro-zone enjoyed a healthy growth rate of 0.6% in the second quarter. The same level is on the cards now. A revised figure for the all-European number will be influenced by this publication. 

UK inflation: Tuesday, 9:30. Headline inflation reached 3% in the UK, the top of the 1-3% range and the rise prompted the BOE to raise interest rates for the first time in over a decade. In that rate decision, Carney said that inflation is expected to peak in October 2017, which is what this report covers. It will probably be a bit higher than 3%. 3.1% is forecast now. 

Yellen, Draghi, Carney, and Draghi speak Tuesday, 10:00. The governors of the US FED, the ECB, the BOE and the BOJ will all speak at a panel at the ECB’s conference in Frankfurt. The topic is communication, which has been an important part of central banks’ policies. Any comments about these all-important CBs policies could impact the USD, EUR, GBP, and the BOJ. Draghi will also speak on Friday at 8:30, but the panel with his peers on Tuesday is more important. 

US PPI: Tuesday, 13:30. Producer prices have risen by 0.4% in September, and so did core PPI. The data reflects inflation in the pipeline – future consumer prices. A smaller rise is likely now. The data also serve as a warm up to the CPI release. Headline PPI is expected to rise by 0.1% and core PPI by 0.2%. 

Japanese GDP: Tuesday, 23:50. Japan has been enjoying six consecutive quarters of economic growth, with a healthy expansion worth 0.6% in Q2 2017. We now get the first release for Q3. Note that revisions can be quite significant in this figure. A slower growth rate of 0.4% is projected now.

USD
US PPI
 

  • EURUSD



As could be seen on the daily chart that the pair is traded below a downtrend line shown on the chart in red. If the pair manages to close below the uptrend line, we may go short targeting the level of 1.1555 during the week. So, we remain bearish as long as the pair is traded below the uptrend line.

 

 

 

 

Resistance levels: Support levels: Recommended:
▪ 1.2000
▪ 1.2100
▪ 1.1770		 ▪ 1.1500
▪ 1.1300

We remain bearish as long as the pair is traded below the uptrend line.

.
  • GBPUSD


As could be seen on the chart above that the pair is traded above an uptrend line. So, we remain bullish as long as the pair is traded above the uptrend line shown on the chart above. Our targets: 1.3262 – 1.3400.

 

 

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

 ▪ 1.2990
▪ 1.2900
▪ 1.2800

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



As could be seen on the chart above that the pair is traded above an uptrend line shown on the chart in red along with a strong support level that could be found at 1260 so we remain bullish as long as the pair is traded above those levels. Our targets: 1290 – 1300.

 


Resistance levels: Support levels: Recommended:

▪ 1350
▪ 1305
▪ 1300

 ▪ 1267
▪ 1260

We remain bullish as long as the pair is traded above the level of 1260.
  • AUDUSD



The pair managed to form a head and shoulders patter shown on the chart above and it also managed to break through the nick line of the pattern so this has opened the door for the pair for further downward movement that it may reach the level of 0.7500 followed by 0.7400

 

Resistance levels: Support levels: Recommended:
▪ 0.8100
▪ 0.8060
▪ 0.7940		 ▪ 0.7400
▪ 0.7500

We remain bearish as long as the pair is traded below the nick line of the pattern.
  • GBPJPY



The pair managed to form a bullish harmonic pattern that it may go down to reach the uptrend line shown on the chart that is where we can go long (PRZ) so we will be waiting for the pair to reach that level. Breaching the level of 148 can open the door for further downward movement that the pair can reach the uptrend line shown on the chart in red.

 

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

▪ 148
▪ 147

Waiting for the pair to reach the uptrend line.