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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

07 November 2018

powered by Land-FX

New Zealand rate decision: Wednesday, 20:00, press conference at 21:00. The Reserve Bank of New Zealand is forecast to leave the Official Cash Rate unchanged at 1.75% once again. Governor Adrian Orr and his colleagues are accompanied by a representative from the government according to the new policy, but they are unlikely to lower interest rates. The statement is expected to stress global trade tensions as a risk factor and also lower business confidence. The Governor’s press conference will also be revealing.

NZD
New Zealand rate decision

  • EURUSD

 

Update: On its way to the level of 1.16. As could be seen on the daily chart that the pair is traded above a strong support level that is 1.13 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1.16 during the week. This is conditioned by the continuation of trading above the support level of 1.13.

 

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

We are bullish as long as the pair is traded above the level of 1.1300

  • GBPUSD

 

Update: On its way to the level of 1.33. The daily chart shows that the pair is on its way to reach a strong resistance level that is 1.33 which is where we can go short. So, we will be waiting for the pair to reach that level, then in case it shows up some bearish evidence, we can go short targeting the level of 1.30 during the week.

 

Resistance levels: Support levels: Recommended:
▪ 1.36
 1.3350
▪ 1.29
 1.2679
 1.2650
 1.2550

Waiting for the pair to reach the level of 1.33.

  • GOLD

 

Update: Still traded below the level of 1240. The 4hours timeframe shows that the pair has reach as strong resistance level that is 1240. So, we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 1220 during the week. This is conditioned by the continuation of trading below the resistance level of 1240. 

 

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

We are bearish as long as the pair is traded below the level of 1240.

  • AUDUSD

 

Update: Still traded above the level of 0.7160. As could be seen on the daily chart that the pair managed to break the downtrend line shown on the chart in blue. So, we believe that as long as the pair is traded above the broken downtrend lone along with the support level of 0.7160, it is highly recommended to go long targeting the level of 0.73 during the week.

 

Resistance levels: Support levels: Recommended:

▪ 0.7550
0.7600
▪ 0.
7260

▪ 0.7000
-
▪ -

We are bullish as long as the pair is traded above the broken downtrend line.

  • GBPJPY

 

Update: Still traded below the level of 150. As could be seen on the daily timeframe that the pair is about to reach a strong resistance level that is 150 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 146 during the week. So, we will be waiting for the pair to reach the resistance level of (149.60 – 150) then if it shows up some bearish evidence, we can go short targeting the level of 146 during the week.

 

Resistance levels: Support levels: Recommended:
156
 155
 149

 --
143.73
 140

We are bearish as long as the pair is traded below the level of 150.

 

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