News & Research

22 August 2017

powered by Land Prime

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• EURUSD

Update: we remain the same. As could be seen on the day chart that the pair is traded right below a strong resistance level that could be found around 1.1900. So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1.1800 during the week (our first target) followed by 1.1600. On the other hand, breaching the level of 1.1900 can open the door for further upward movements during the week.

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• GBPUSD

Update: the pair is about to breach the level of 1.2800. As could be seen on the daily chart that the pair managed to break through a strong support level (the uptrend line which is broken now). Having the uptrend line broken doesn't mean that we can go short because we still have a strong support level that could be found around 1.2800. So, if the level of 1.2800 is breached, then the way would be open for the pair to reach the level of 1.2600 during the week. (1.2700 followed by 1.2600).

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• GOLD

Update: the pair is still traded below the level of 1300. The pair is traded below a strong resistance level that could be found around the level of 1300. So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1250 during the week.

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• AUDUSD

Update: we remain the same. The pair may continue going up to reach the level of 0.8000 then a pullback is expected. So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 0.7800 followed by 0.7700. This is conditioned by the continuation of trading below the level of 0.8000.

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• GBPJPY

Update: the pair is still traded below the broken uptrend line. The broken uptrend line has opened the door for further downward movement during the week. We would also like to mention that the breakout of the level of 139 will open the door for pair to reach the level of 138 followed by 137 during the week.