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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

29 December 2017

powered by Land Prime

 

 

German CPI: Friday, during the European morning with the final release coming at 13:00. Prices in Europe’s third-largest economy rose by 0.3% in November and its early publication will shape the numbers for all the euro-zone. Draghi’s dovishness is based on poor inflation in the euro-zone. We’ll now get an early look while liquidity is super-low just ahead of the New Years’ Party.

EUR

German CPI

 

  • EURUSD

 

Update: The pair is about to reach the level of 1.2000. As could be seen on the daily chart that the pair did not show any strong move in the previous sessions but we still have technical factors that support a bullish scenario that the pair may continue going up to reach the level of 1.2000 during the week. This is conditioned by the continuation of trading above the level of 1.1660. 

 

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 level of 1.1660.
  • GBPUSD

 

Update: The pair broke through the upside of the bearish channel so we expect more upward movement during the day. As could on the daily chart that the pair moves within a very narrow range and is traded below the upside of the bearish channel. In case that the pair breaks through the upside of the bearish channel, the pair may continue going up to reach the level of 1.3540 during the week.

 

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

We remain bearish as long as the pair is traded below the upside of the bearish channel.
  • GOLD

 

Update: The pair is about to reach our final target at 1300. As could be seen on the daily chart that the pair is traded below a strong resistance level that the short term down trendline. In case it is broken, we will be waiting for more rise that the pair may reach the level of 1300 during the week. Otherwise, we are bearish and our targets are as following: 1275 – 1270 followed by 1260.

 

Resistance levels: Support levels: Recommended:
▪ 1310
▪ 1300
▪ 1290

▪ 1250
▪ 1240
▪ 1210

We remain bullish.
  • AUDUSD

 

Update: Waiting for the pair to break through the level of 0.7815 so we can go long targeting the level of 0.7900; as our weekly target was hit. The pair managed to break the level of 0.7740 (strong resistance level) so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 0.7810.

 

Resistance levels: Support levels: Recommended:

▪ 0.8100
▪ 0.8060
▪ 0.7810

 ▪ 0.7740
▪ 0.7500

We remain bullish as long as the pair is traded above the level of 0.7810.
  • GBPJPY

 

Update: We remain the same. As could be seen on the chart above that the pair is traded within an ascending channel but there is nowhere to enter the market now. So, we will be waiting for the pair to reach either the upside that is where we can go short or the down side where we can go long. Generally speaking, having the pair traded above the 50 EMA opens the door for further upward movement that the pair can reach the level of 153 during the week.

 

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

▪ 148
▪ 147

We remain bullish as long as the pair is traded above the 50 ema.

 

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