News & Research

04 July 2018

powered by Land Prime

• 
• EURUSD

 

The daily chart shows that the pair is traded above an uptrend line shown on the chart in red. The expected scenario for this week is that if the pair continues to be traded above the uptrend line, this opens the door for further upward movements during the week that it may reach the level of 1.1950 followed by 1.20.

 

Resistance levels:	Support levels:	Recommended:
▪ 1.21 ▪ 1.20 ▪ --	▪ 1.17 ▪ 1.1650 ▪ 1.1600	We are bullish as long as the pair is traded above the uptrend line.

• 
• 
• GBPUSD

 

As could be seen on the daily chart that the pair managed to breach an uptrend line shown on the chart in red but we believe that the breakout of the trendline is not confirmed yet. To be confirmed, the pair must breach the level of 1.3050 with at least a daily close, otherwise the pair may continue going up to reach the level of 1.34 followed by 1.35 during the week. This is conditioned by the continuation of trading above the level of 1.3050.

 

Resistance levels:	Support levels:	Recommended:
▪ 1.36 ▪ 1.35 ▪ 1.34	▪  ▪ 1.3150 ▪ 1.3050	We are bullish as long as the pair is traded above the level of 1.3050.

• 
• GOLD

 

As we can see on the daily chart that the pair is traded above a strong support level that is 1235 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1280 during the week. An alternative scenario: If the level of 1235 is broken, the way is open for the pair to reach the level of 1220 followed by 1210.

 

Resistance levels:	Support levels:	Recommended:
▪ 1330 ▪ 1320 ▪ --	▪ 1235 ▪ 1220 ▪ 1210	We are bullish as long as the pair is traded above the level of 1235.

• 
• 
• AUDUSD

 

As we can see on the daily timeframe that the pair is traded above an uptrend line. This is a very bullish indicator that bullish bias may continue but this is not everything as the Gold is bearish which could lead the AUD to a strong bearish movement very soon. Let's wait for some bullish evidence to show up above the uptrend line.

 

Resistance levels:	Support levels:	Recommended:
▪ 0.7550 ▪ 0.7600 ▪ --	▪ 0.7370 ▪ 0.7300 ▪	Waiting for the pair to show up some bullish evidence above the uptrend line.

• 
• 
• GBPJPY

 

As could be seen on the daily timeframe that the pair is traded within an ascending channel. To be exact, the pair is traded right above the downside of the channel which means that there is a high potential that the pair may continue going up to reach the level of 150 during the week.

 

Resistance levels:	Support levels:	Recommended:
▪ 156 ▪ 155 ▪ 150.50	▪ 144 ▪ 144 ▪ 143	We are bullish as long as the pair is traded above the downside of the channel.

 

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