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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 November 2017

powered by Land Prime

 

 

US CPI: Wednesday, 13:30. Solid growth and upbeat job gains do not translate into inflation. Core CPI has been stuck at 1.7% for long months after sitting above 2% early in the year. Month over month, core CPI advanced by only 0.1% in September. Headline CPI jumped by 0.5%, but this is of lesser importance. The Fed is still set to raise rates in December, but the prospects for three hikes in 2018 could be altered if inflation remains subdued. Headline CPI is expected to rise by 0.1% m/m and core CPI by 0.2% m/m.

US retail sales: Wednesday, 13:30. Consumption is key to the US economy, and shoppers have been picking up steam in September. Headline retail sales advanced by 1.6% while core sales rose by 1%. Note that the simultaneous publication of both inflation and retail sales numbers could cause a choppy reaction. Headline sales carry expectations for remaining unchanged and core sales are predicted to rise by 0.2%.

USD
US retail sales
 

  • EURUSD

Update: the pair managed to break through the down trendline shown on the chart in red, but we still have a strong resistance level that is the Fibonacci level of 50 so in case it is broken, we may go long targeting the level of 61.8 Fibonacci. 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
▪ 1.1700		 ▪ 1.1500
▪ 1.1300

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

Update: the pair is still traded above the uptrend line so we remain bullish. 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

Update: We remain bullish. 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

Update: the pair has started its bearish movement as expected. 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

Update: The pair is on its way to reach the level of 148. A breakout of this level will open the door for further downward movement. 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.