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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

19 December 2017

powered by Land Prime

 

 

US housing data: Tuesday, 13:30. US building permits jumped to an annualized level of 1.32 million in October, but this level is not expected to hold: 1.28 is forecast now. Housing starts also looked good with 1.29 million and a level of 1.25 is on the cards for November. Note that for a meaningful effect, both figures need to go in the same direction. In some cases, one surprises to the upside and the other to the downside, offsetting each other.

AUD

US housing data

 

  • EURUSD

 

Ac could be seen on the daily chart that the pair is traded above s support level that is the uptrend line shown in blue.  As long as the pair is traded above it, it is highly recommended to go long targeting the level of 1.1960.

 

Resistance levels: Support levels: Recommended:
▪ 1.2100
▪ 1.2000
▪ 1.1960		 ▪ 1.1670
▪ 1.1600
▪ 1.1550

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

 

As could be seen on the daily chart that the pair is traded within a symmetrical triangle. The pair may continue going down to reach the downside of the pattern.

 

Resistance levels: Support levels: Recommended:
▪ 1.3670
▪ 1.3540
▪ 1.3450		 ▪ 1.3320
▪ 1.3250
▪ 1.3200

Waiting for the pair to reach the uptrend line.
  • GOLD

 

As could be seen on the daily chart that the pair is traded below a strong resistance level that is the broken uptrend line shown on the chart in red. So we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1240 during the week.

 

Resistance levels: Support levels: Recommended:
▪ 1290
▪ 1280
▪ 1270

▪ 1250
▪ 1240
▪ 1210

If the level of 1239 is broken, we can go short.
  • AUDUSD

 

The pair is still traded below the broken neck-line of the head and shoulders pattern detected a few weeks ago. Therefore, we will remain bearish. Our target for this week is 0.7500.

 

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

 

As could be seen on the chart above that the pair is traded below a strong resistance level 152.90. So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 150 followed by 149.70 during the week.

 

Resistance levels: Support levels: Recommended:
▪ 152.90
▪ 152

▪ 148
▪ 147

We remain bearish as long as the pair is traded below the level of 152.90.

 

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