News & Research

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

08 November 2023

powered by Land Prime

 

  • EURUSD

The daily chart shows that the pair is trading below two strong resistance levels that are: the upside of the bullish channel beside the 100-day MA. The implication of having the pair trading below these levels is essentially seen as a bearish movement to the downside with targets: 1.0630 – 1.0570.

Resistance levels: Support levels: Recommended:
▪ 1.0900
▪ 1.0800
▪ 1.0750		 ▪ 1.0630
▪ 1.0570
▪ 1.0500

Bullish above 1.0700
  • GBPUSD

On the daily chart, the pair has formed an ascending channel, shown on the chart above in red. The pair is trading closely to the up boundary of the channel. Therefore, we are bearish as long as the pair is trading below it with targets: 1.2200 – 1.2150.

Resistance levels: Support levels: Recommended:
▪ 1.2500
▪ 1.2450
▪ 1.2426		 ▪ 1.2200
▪ 1.2150
▪ 1.2100

Bearish below 1.2426
  • GOLD

On the 4-hour chart, the pair is mixed! The core baseline is 1970. In one hand, we might be bearish as long as the pair is trading below it with targets: 1960 – 1952. On the other hand, a 4-hour close above it, would push it toward:  1977 – 1983.

Resistance levels: Support levels: Recommended:
▪ 1990
▪ 1983
▪ 1977		 ▪ 1960
▪ 1952
▪ 1950		 Baseline: 1970

  • AUDUSD

On the 4-hour chart, there is a strong resistance level that could be found at 0.6400. Therefore, we are bearish as long as the pair is trading below it with targets: 0.6270.

Resistance levels: Support levels: Recommended:

▪ 0.6450
▪ 0.6400
▪ 0.6350

▪ 0.6280
▪ 0.6250
▪ 0.6230

Bearish below 0.6400
  • GBPJPY

The 4-hour chart shows that the pair is trading below 186.00 – 186.65. Therefore, we are bearish as long as the pair is trading below it with targets: 184 – 183.60 – 183.

Resistance levels: Support levels: Recommended:
▪ 188.00
▪ 186.65
▪ 186.00

▪ 184.00
▪ 183.60
▪ 183.00

Bearish below 186.65 

 

 

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