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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 February 2019

powered by Land-FX

German GfK Consumer Climate: Tuesday, 7:00. Consumer confidence improved to 10.8 points in January, easily beating the estimate of 10.3 points. Another gain of 10.8 points is expected in February.

 

 

EUR
German GfK Consumer Climate

  • EURUSD

 

The daily timeframe shows 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 1.15. This is conditioned by the continuation of trading above the level of 1.13.

 

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

 

The daily timeframe shows that the pair is traded below a strong resistance level. So, we have two scenarios: The first one; if the pair shows up some bearish evidence below the resistance level of 1.33, we can go short targeting the level of 1.28 during the week. The 2nd one is; if the pair breaks through the level of 1.33 and the breakout is confirmed with a daily close, the pair can continue going up to reach the level of 1.35.

 

Resistance levels: Support levels: Recommended:
▪ 1.36
 1.33
▪ 1.32
 1.2730
 1.27
 1.26

Waiting for the pair to show up some bearish evidence below the level of 1.33.

  • GOLD

 

The golden area where we can find a good place to enter the market could be found between 1350 to 1365. So, we will be waiting for the pair to reach this area, then in case it shows up some bearish evidence, we can go short targeting the level of 1330 during the week.

 

Resistance levels: Support levels: Recommended:
 1350
 1365
 1298
 1180
 1170

Waiting for the pair to reach the level of 1350.

  • AUDUSD

 

As could be seen on the daily timeframe that the pair is traded above a strong support level that is 0.70. So, we are bullish as long as the pair is traded above it. Our first target could be as follows: 0.73 – 0.74

 

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 level of 0.70.

  • GBPJPY

 

The pair successfully managed to break through a strong resistance level that is the neck line of the head and shoulders pattern shown on the chart above. Therefore, we are bullish as long as the pair is traded above the neckline. Our first target is: 149.

 

Resistance levels: Support levels: Recommended:
156
 155
 149

 140
139
 138

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

 

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