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Land Prime 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

04 December 2018

powered by Land Prime

Australian rate decision:  Tuesday, 15:3:30. The Reserve Bank of Australia left the interest rates unchanged at 1.50% for over two years, and this decision will unlikely be different. Governor Phillip Lowe and his colleagues have hinted that the next move will more likely be to the upside, but an increase is not imminent. Comments about the improving labor market, the cooling housing one, and international trade will be of high interest. The central bankers will likely have the GDP data before them, so any reference to growth may serve as a hint.

AUD
Australian rate decision

  • EURUSD

 

As could be seen on the daily chart that the pair is traded above a strong support level that is 1.1210 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1.14 during the week. This is conditioned by the continuation of trading above the support level of 1.1210

 

Resistance levels: Support levels: Recommended:
 1.21
1.1850
▪ 1.18
▪ -
 1.1217
 1.10

We are bullish as long as the pair is traded above the level of 1.1217.

  • GBPUSD

 

As could be seen on the daily chart that the pair is traded above a strong support level that is 1.26, in case the pair shows up some bullish evidence above this level, we can go long 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

We are bullish as long as the pair is traded above the level of 1.26.

  • GOLD

 

As could be seen on the chart above that the pair is traded below a strong resistance level that is 1245 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.

 

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

We are bearish as long as the pair is traded below the level of 1245.

  • AUDUSD

 

The daily timeframe shows that the pair is about to reach a strong resistance level that is 0.7450 so we believe that as long as the pair is traded below it, it is highly recommended to go short targeting the level of 0.73 during the week.

 

Resistance levels: Support levels: Recommended:

▪ 0.7550
0.7600
▪ 0.
7260

▪ 0.7000
-
▪ -

We are bearish as long as the pair is traded below the level of 0.7450.

  • GBPJPY

 

The daily timeframe shows that the pair is about to reach a strong support level that is 143. In case the pair shows up some bullish evidence above this level, we can go long. On the other hand, if this level is broken, we can go short targeting the level of 142 during the week.

 

Resistance levels: Support levels: Recommended:
156
 155
 149

 143
142
 143=1

Waiting for the pair to confirm its next move.

 

 

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