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Market Research & Info

Land-FX 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

23 May 2022

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  • EURUSD

As could be seen on the chart above that the pair is trading below a strong resistance level that is 1.0850. Therefore, we are bearish as long as the pair is trading below it with targets: 1.0300 – 1.0250. Keep in mind that we will be waiting for the pair to reach that level then in case it shows up bearish evidence below it, we might go short to target: 1.0700 – 1.0650. On the other hand, if the level of 1.0.850 the pair might reach 1.0900 – 1.0950.

Resistance levels: Support levels: Recommended:
1.0950
1.0900
▪ 1.0850
▪ 1.0650
1.0600
1.0500

Bearishness below 1.0850.

  • GBPUSD

As could be seen on the chart above that the pair has been trading below a strong resistance level that is 1.2700. Therefore, we are bearish as long as the pair is trading below it with targets: 1.2300 – 1.2250. On the other hand, if the level of 1.2700 is broken, the pair might reach 1.2850.

Resistance levels: Support levels: Recommended:
▪ 1.2850
1.2750
▪ 1.2700
1.2150
1.2100
1.2000

Bearish below 1.2700.

  • GOLD

The chart above shows that the pair has formed a harmonic pattern (bullish). Therefore, the pair might continue going upwards that it might reach 1900 – 1950 as long as it is above 1780. On the other hand, a close below 1780 would open the door for further downward movement that it might reach 1700.

Resistance levels: Support levels: Recommended:
1900
1875
1850
1780
1750
1730
Bullishness above 1780.

  • AUDUSD

The chart above shows that the pair is trading within a bearish channel. Therefore, we will be bullish as long as the pair is trading above the downside of the channel with targets: 0.72 – 0.73. On the other hand, a close below 0.6800 would push the pair to its downside targets as follows: 0.6750 – 0.6700.

Resistance levels: Support levels: Recommended:

▪ 0.7400
0.7300
0.7200

▪ 0.6830
0.6800
▪ 0.6700

Bullishness above 0.6830.

  • GBPJPY

The chart above shows that the pair has been trading above a strong support level that is 158. Therefore, we are bullish as long as the pair is trading above it with targets: 162 – 163.

Resistance levels: Support levels: Recommended:
164.00
163.00
162.00

 158.00
157.50
157.00

Bullishness above 158.

 

 

 

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