News & Research

16 August 2018

powered by Land Prime

• 
• EURUSD

 

Update: The pair has not breached the level of 1.13 yet. Breaching the level of 1.1315 opens the door for further downward movement during the week that it may reach 1.1260. The pair managed to break through the downside of the symmetrical triangle shown on the chart. Also, the level of 1.1515 was broken which opens the door for further downward movement during the week that is can reach the level of 1.1315. This is conditioned by the continuation of trading below the level of 1.1515.

 

Resistance levels:	Support levels:	Recommended:
▪ 1.21 ▪ 1.20 ▪ --	▪ 1.1315 ▪ 1.13 ▪ 1.1250	We are bearish as long as the pair is traded below the level of 1.1515.

• 
• 
• GBPUSD

 

Update: Today's candle is bullish however we remain bearish. The pair managed to break through the downside of the downward channel shown on the chart above. Since the pair is traded below it, we can go short targeting the level of 1.26 followed by 1.2550. This is conditioned by the continuation of trading below the downside of the channel. 

 

Resistance levels:	Support levels:	Recommended:
▪ 1.36 ▪ 1.35 ▪ 1.34	▪  ▪ 1.26 ▪ 1.2550	We are bearish as long as the pair is traded below the downside of the broken channel.

• 
• GOLD

 

Update: Today's candle is a hammer candle which is considered to be a bullish sign. The pair is traded below a strong support level that is shown on the chart in blue. There is no way to enter the market now so we will wait for the pair to reach the downtrend line then we can go short in case is shows up some bearish evidence.

 

Resistance levels:	Support levels:	Recommended:
▪ 1330 ▪ 1320 ▪ 1235	▪ -- ▪ -- ▪ 1200	We are bearish as long as the pair is traded below the level of 1218.

• 
• 
• AUDUSD

 

Update: Still traded below the level of 0.7310. On the chart above we can find a very tight range between the level of 0.7460 (resistance) and 0.7310 (was a support level). The support level was broken and as a result the pair might continue going down to reach the support level of 0.7160. This is conditioned by the continuation of trading below the level of 0.7310 targeting the level of 0.7160.

 

Resistance levels:	Support levels:	Recommended:
▪ 0.7550 ▪ 0.7600 ▪ 0.7480	▪ 0.7160 ▪ 0.71 ▪	We are bearish as long as the pair is traded below the level of 0.7160.

• 
• 
• GBPJPY

 

Update: Still traded above the level of 140. As could be seen on the daily chart that the pair is traded within a downward channel. The pair now is traded right above the downside so if the pair shows up some bullish evidence, we can go long targeting the level of 143.

 

Resistance levels:	Support levels:	Recommended:
▪ 156 ▪ 155 ▪ 146	▪ -- ▪ -- ▪ 140	We are bullish as long as the pair is traded above the level of 140.

 

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