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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

20 June 2017

powered by Land Prime

 

 

FOMC’s Fischer talks: Tuesday, 12:00. Stanley Fischer is the Vice Chair of the Fed and contrary to Dudley, he is considered a hawk. Fischer will be speaking across the pond, in Amsterdam. Fischer will have a bigger impact if he goes dovish.

 

 
  • EURUSD


Update: We remain the same. As could be seen on the chart above that the pair is traded below a strong resistance level around 1.1300. It also matches a Fibonacci level of 0.386 (From 14.10.2014 to 03.01.2017). So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.1200 followed by 1.1100 during the week. On the other hand, if the level of 1.1300 is broken (by at least a daily close) then the way would be open for the pair to reach 1.1400.

Resistance levels: Support levels: Recommended:
1.1275
-1.1300
 1.1350
1.1200
-1.1150
1.1100

We remain bearish as long as the pair is traded below the level of 1.1272.

  • GBPUSD


Update: We remain the same as long as the pair is traded above the level of 1.2634. The pair may continue going up to reach the level of 1.2900 then a pullback is expected. Therefore, there is nowhere to enter the market at the time, we will be waiting for the pair to reach the level of 1.2900 then we can go short.


Resistance levels: Support levels: Recommended:
1.3000
-1.3100
1.2900
1.2750
▪ 1.2700
--

We remain bearish as long as the pair is traded below the level of 1.3000

  • GOLD

 

Update: A daily close below the level of 1250 will confirm our bearish scenario. As could be seen on the chart that the pair is traded above a strong support level that could be found around the level of 1250. So, we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1300 during the week. On the other hand, breaching the level of 1250 will open the door for further downward movement during the week.



Resistance levels: Support levels: Recommended:
1350
 1300
 1290
 1250
1220
 1200

We remain bullish as long as the pair is traded above the level of 1250

  • AUDUSD


Update: nothing new, we remain the same. As could be seen on the chart above that the pair is traded right above a strong support level that could be found around 0.7550 so we believe that as long as the pair is traded above it, the way would be open for the pair to reach the level of 0.7700 during the week.

Resistance levels: Support levels: Recommended:
 
▪ 0.7600
-0.7700
0.7500
▪ 0.7550
 0.7250

We remain bullish as long as the pair is traded above the level of 0.7550

  • GBPJPY


Update: the pair is still traded above the uptrend line so we remain the same. As could be seen on the chart that the pair is traded right above a strong support level which is the uptrend line in red. So, we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 144 during the week.

 

Resistance levels: Support levels: Recommended:
144
145
 146

142
 141
 140

We remain long as long as the pair is traded above the uptrend line.