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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

21 November 2018

powered by Land-FX

US Durable Goods Orders: Wednesday, 13:30. Orders of durable goods rose by 0.7% in September according to the final read. However, core orders remained flat. The data feeds into GDP calculations and is closely watched by the Federal Reserve. The figure provides an update on investment, a part of the economy that has not picked up. We will now receive figures for October.

USD
US Durable Goods Orders

  • EURUSD

 

Update: We remain the same. As could be seen on the daily chart that the pair is traded below a strong resistance level that is the downtrend line. The pair formed a bearish engulfing pattern which is considered to be a bearish signal. In this case, we may go short targeting the level of 1.1250. This is conditioned by the continuation of trading below the downtrend line.

 

Resistance levels: Support levels: Recommended:
 1.21
1.1850
▪ 1.18
▪ -
 1.11
 1.10

We are bearish as long as the pair is traded below the downtrend line.

  • GBPUSD

 

Update: The pair started moving upwards. As could be seen on the chart above that the pair is traded right above a strong support level that is 1.27 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1.30 during the week. This is conditioned by the continuation of trading above the level of 1. 27..

 

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

We are bullish as long as the pair is traded above the level of 1.2690.

  • GOLD

 

Update: We remain the same. The chart above shows that the pair is on its way to reach the resistance level of 1235 – 1240 so we will wait for the pair to reach or to be traded between these two levels then we can go short targeting the level of 1220 during the week. This is conditioned by the continuation of trading below the 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: We remain the same. As could be seen on the chart above that the pair is traded in nowhere to enter the market. So, we believe that we can wait for the pair to reach the strong support level of 0.7160 which is where we can go long targeting the level of 0.7350.

 

Resistance levels: Support levels: Recommended:

▪ 0.7550
0.7600
▪ 0.
7260

▪ 0.7000
-
▪ -

Waiting for the pair to reach the support level of 0.7160.

  • GBPJPY

 

Update: Some bullish candles have showed up. The chart above shows that the pair is about to reach a strong support level that is the uptrend line shown on the chart in blue. In case the pair shows up some bullish evidence above it, we can go long targeting the level of 146 during the week. This is conditioned by the continuation of trading above the uptrend line.

 

Resistance levels: Support levels: Recommended:
156
 155
 149

 146.50
146
 140

We are long as long as the pair is traded above the uptrend line.

 

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