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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

27 February 2018

powered by Land Prime

 

 

Jerome Powell testifies: Tuesday, statement released at 13:30, testimony begins at 15:00. The new Fed Chair makes his first testimony in a highly anticipated event. As a Governor, Powell never dissented and his views on monetary policy are somewhat unknown. Markets will want to understand if he is a dove or a hawk and try to assess whether the Fed will raise rates more than three times in 2018. A hike in March is priced in, but further steps depend on the economy and on the stance of Powell.

US Durable Good Orders: Tuesday, 13:30. Sales of durable goods serve as a gauge for investment. Headline orders are expected to fall by 2.4% in January after a jump of 2.8% in December. Core orders carry expectations for a rise of 0.4% after 0.7% beforehand.

CB Consumer Confidence: Tuesday, 15:00. The Conference Board’s consumer confidence measure has shown high confidence among American consumers, implying elevated spending. The score is expected to increase from 125.4 to 126.2 points in February. The parallel figure from the University of Michigan beat expectations in the preliminary report for this month.

USD

Jerome Powell testifies
US Durable Good Orders
CB Consumer Confidence:


  • EURUSD

 

As could be seen on the daily chart that the pair is traded above a strong support level that is 1.21. Therefore, we are bullish as long as the pair is traded above it that it may reach the level of 1.25 during the week.

 

Resistance levels: Support levels: Recommended:
▪ 1.2530
▪ --
▪ --		 ▪ 1.21
▪ 1.1600
▪ 1.1550

We are long as long as the pair is traded above the level of 1.21.
  • GBPUSD

 

As could be seen on the daily chart that the pair is traded right above a strong support level that is the EMA of 50 (D). So, we are bullish as long as the pair is traded above it that it may reach the level of 1.41 followed by 1.42 during the week.

 

Resistance levels: Support levels: Recommended:
▪ 1.4200
▪ 1.4100
▪ --		 ▪ 1.3800
▪ 1.3700
▪ 1.3600

We are bullish as long as the pair is traded above the level EMA/50/D.
  • GOLD

 

As could be seen on the daily chart that the pair is traded above a strong support level that is 1320. So, we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1350 during the week.

 

Resistance levels: Support levels: Recommended:
▪ 1350
▪ --
▪ --		 ▪ 1310
▪ 1300
▪ 1290

We remain bullish as long as the pair is traded above the level of 1320.
  • AUDUSD

 

As could be seen on the daily chart that the pair is traded below a strong resistance level that could be found at 0.79. So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 0.7700 during the week. On the other hand, breaching the level of 0.79 can open the door for further upward movement during the week.

 

Resistance levels: Support levels: Recommended:

▪ 0.8000
▪ 0.7900
▪ --

 ▪ 0.7700
▪ 0.7600
▪ 0.7500

We are bearish as long as the pair is traded below the level of 0.7900.
  • GBPJPY

 

As could be seen on the char above that the pair is traded within an ascending channel. It is traded right above the downside of the channel so we can go long targeting the level of 152 during the week. On the other hand, breaching the downside of the ascending channel can open the door for further downward movement during the week.

 

Resistance levels: Support levels: Recommended:
▪ 156
▪ 155

▪ 148
▪ 147

We remain bullish as long as the pair is traded above the downside of the pattern.


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