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

29 September 2023

powered by Land Prime

 

  • EURUSD

Update: The pair broke through the support level! As can be seen on the chart above the pair is trading above 1.0520. Therefore, we are bullish as long as the pair is trading above it with targets: 1.0750 – 1.0800. On the other hand, a daily close below 1.0520 would push the pair towards: 1.0400.

Resistance levels: Support levels: Recommended:
▪ 1.0900
▪ 1.0800
▪ 1.0750		 ▪ 1.0520
▪ 1.0450
▪ 1.0400

Bullish above 1.0520
  • GBPUSD

Update: The pair did hit its target to the downside! The pair is facing a strong support level that is 1.2300. If the pair closes below this level, it might continue going downward to reach 1.2100. On the other hand, if the pair holds steady above the level of 1.2300, it might reach 1.2400.

Resistance levels: Support levels: Recommended:
▪ 1.2600
▪ 1.2500
▪ 1.2400		 ▪ 1.2300
▪ 1.2200
▪ 1.2100

Bullish above 1.2300.
  • GOLD

Update: Targets were hit! The chart above shows that the pair is trading below a strong resistance level that is the downtrend line shown on the chart above. Therefore, we are bearish as long as the pair is trading below it with targets: 1900 – 1893.

Resistance levels: Support levels: Recommended:
▪ 1980
▪ 1950
▪ 1940		 ▪ 1890
▪ 1850
▪ 1830		 Bearish below 1950.

  • AUDUSD

Update: Target was hit! As could be seen on the chart above that the pair has been trading below 0.65. Therefore, we are bearish as long as the pair is trading below it with targets: 0.6300.

Resistance levels: Support levels: Recommended:

▪ 0.6600
▪ 0.6500
▪ 0.6450

▪ 0.6400
▪ 0.6300
▪ 0.6200

Bearish below 0.6500.
  • GBPJPY

Update: Targets were hit! The pair has formed a bullish wedge but it broke through the downside of the pattern that would make it invalid. Therefore, we will be waiting for the pair to confirm the breakout of the downside of the pattern then we might go short to target: 181.50 – 181.00.

Resistance levels: Support levels: Recommended:
▪ 186.00
▪ 185.00
▪ 184.00

▪ 181.50
▪ 181.00
▪ 180.00

Bearish. 

 

 

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