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Market Research & Info

Land-FX 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

26 October 2018

powered by Land-FX

US GDP: Friday, 12:30. The US economy grew by an annualized pace of no less than 4.2% in the second quarter of the year, according to the final figure. We will now get the first estimate for Q3, which is projected to be somewhat weaker but still above the “new normal” levels of 2-2.5%. An increase of 3.3% annualized is expected. The first publication tends to have the most robust impact.

USD
US GDP

  • EURUSD

 

Update: The breakout was confirmed and the pair is about to reach the support level of 1.1315. As could be on the daily chart that the pair managed to breach a strong support level that could be found at 1.1440. A daily close below this level would confirm the breakout. In case this happens, the way would be open for the pair to reach the level of 1.1315 during the week.

 

Resistance levels: Support levels: Recommended:
 1.21
1.1850
▪ 1.18
▪ -
 1.13
 1.1250

We are bearish as long as the pair is traded below the level of 1.1440.

  • GBPUSD

 

Update: On its way to the level of 1.2780. The daily timeframe shows that the pair managed to break a short-term uptrend line that we can see in blue. We also have a strong support level 1.29. If that level is broken, the way would be open for the pair to reach the level of 1.2780 during the week.

 

Resistance levels: Support levels: Recommended:
▪ 1.36
 1.3350
▪ 1.29
 1.2780
 1.2650
 1.2550

We are bearish as long as the pair is traded below the level of 1.29.

  • GOLD

 

Update: The pair successfully hit the level of 1235.  As could be seen on the 4-hour timeframe that the pair has reach a strong resistance level that is 1235. We have two scenarios for the upcoming movement. If the pair continues to be traded below the resistance level of 1235, this means that the pair might continue going down to reach the level of 1218 during the week. On the other hand, if the level of 1235 is broken, then the way if open for the pair to reach the level of 1245 during the week.

 

Resistance levels: Support levels: Recommended:
 1330
 1235
 -
 
 1180
 1170

Following the two scenarios in the report.

  • AUDUSD

 

Update: Has not reached the downtrend line yet.  daily chart shows that the pair is traded below a strong resistance level that is the down trend line shown on the chart in blue. We will be waiting for the pair to reach the down trendline and in case it shows up some bearish evidence, we can go short targeting the level of 0.70 during the week.

 

Resistance levels: Support levels: Recommended:

▪ 0.7550
0.7600
▪ 0.
7260

▪ 0.7000
-
▪ -

Waiting for the pair to reach the downtrend line.

  • GBPJPY

 

Update: On its way to the level of 143.77.  The daily timeframe shows that the pair is on its way to reach 143.73. We will be waiting for the pair to reach the support level of 143.73. This is where we can go long in case the pair reaches this level and shows up some bullish evidence above it.

 

Resistance levels: Support levels: Recommended:
156
 155
 149

 --
143.73
 140

Waiting for the pair to reach the level of 143.73.

 

 

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