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

06 December 2023

powered by Land Prime

 

  • EURUSD

The chart above shows that the pair is trading below a strong resistance level that is 1.1080. Therefore, we are bearish as long as the pair is trading below it with targets: 1.0700 – 1.0650.

Resistance levels: Support levels: Recommended:
▪ 1.1100
▪ 1.1080
▪ 1.1024		 ▪ 1.0700
▪ 1.0650
▪ 1.0600

Bearish below 1.1080
  • GBPUSD

As could be seen on the chart above that the pair is trading below a strong resistance level that is 1.2650. Therefore, we are bearish as long as the pair is trading below it with targets: 1.2500 – 1.2480.

Resistance levels: Support levels: Recommended:
▪ 1.2800
▪ 1.2730
▪ 1.2650		 ▪ 1.2500
▪ 1.2480
▪ 1.2400

Bearish below 1.2650
  • GOLD

The pair has painted a mixed picture as it went above 2078 (highest level before the beginning of the week) then it went down to be trading below it again! This would make us ignore the false breakout and keep focusing on lower levels as targets: 2000 – 1983. (conditioned by the continuation of trading below 2080).

Resistance levels: Support levels: Recommended:
▪ 2140
▪ 2080
▪ 2050		 ▪ 2000
▪ 1983
▪ 1952		 Bearish below 2100

  • AUDUSD

On the 4-hour chart, the pair has formed a double top pattern that has a target around 0.6500 – 0.6460. On the other hand, if the level of 0.6650 is broken, the pair might continue going upwards!

Resistance levels: Support levels: Recommended:

▪ 0.6680
▪ 0.6650
▪ 0.6600

▪ 0.6550
▪ 0.6500
▪ 0.6460

Bearish below 0.6650
  • GBPJPY

The 4-hour chart shows that the pair is trading below 188.30. Therefore, we are bearish as long as the pair is trading below it with targets: 184.

Resistance levels: Support levels: Recommended:
▪ 189.00
▪ 188.30
▪ 187.50

▪ 184.00
▪ 182.00
▪ 180.50

Bearish below 188.30

 

 

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