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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

8 May 2018

powered by Land Prime

 

Jerome Powell talks Tuesday, 7:!5. Fed Chair Jerome Powell delivers a speech titled “Monetary Policy Influences on Global Financial Conditions and International Capital Flows” in Zurich. While he is out of the US and speaking about global conditions, talking about monetary policy may yield market-moving comments, especially if he talks about inflation. Markets will also be watching for any hint about the expected June hike.

USD

Jerome Powell talks


  • EURUSD

 

As could be seen on the daily chart that the pair managed to break through a strong support level (the uptrend line which is a resistance level now) so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.1700 during the week. This is conditioned by the continuation of trading below the broken uptrend line.

 

Resistance levels: Support levels: Recommended:
▪  1.21
▪  1.20
▪ --		 ▪  1.17
▪  1.1650
▪  1.1600

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

  • GBPUSD

 

As could be seen on the daily chart that the pair managed to break through a strong support level (the uptrend line which is a resistance level now) so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.33 during the week. This is conditioned by the continuation of trading below the broken uptrend line.

 

Resistance levels: Support levels: Recommended:
▪ 1.3700
▪ 1.3800
▪ --		 ▪ 1.3300
▪ 1.3250
▪ 1.3200

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

  • GOLD

 

As could be seen on the chart above that the pair is traded above a strong support level (1300) so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1320 followed by 1330 during the week.

 

Resistance levels: Support levels: Recommended:
▪ 1330
▪ 1320
▪ --		 ▪ 1300
▪ 1290
▪ 1285

We are bullish as long as the pair is traded above the level of 1300.

  • AUDUSD

 

Will the pair continue going down to reach the uptrend line? In case the pair continues going down to reach the uptrend line, we will wait for it to reach it and then we can go long in case it shows up some bullish evidence.

 

 

Resistance levels: Support levels: Recommended:

▪ 0.7550
▪ 0.7600
▪ --

 ▪ 0.7370
▪ 0.7300
▪ --

Waiting for the pair to reach the up trendline.

  • GBPJPY

 

As could be seen on the daily chart that the pair is traded above a strong support level that is the uptrend line. In case is shows up some bullish evidence above it, we can go long targeting the level of 150.50 during the week.

 

Resistance levels: Support levels: Recommended:
▪ 156
▪ 155
▪ 150.50

▪ 147
▪ 146

We are bullish as long as the pair is traded above uptrend line.

 

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