News & Research

Market Research & Info

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 June 2019

powered by Land-FX

Euro-zone PMIs: Friday, 7:15 for France, 7:30 for Germany, and 8:00 for the euro-zone. Markit’s forward-looking indicators have shown uncertainty about future growth. The most worrying figure has been the German manufacturing purchasing managers’ indicator which has been well below 50 – the threshold that separates expansion from contraction – for several months. It is now forecast to rise from 44.3 to 44.6 points. France’s figures have been marginally above 50 and are expected to hold their ground in the preliminary figures for June.

EUR
Euro-zone PMIs

 

  • EURUSD

 

Update: The pair started going up as expected. The chart above shows that the pair is traded above a strong support level that is 1.1118 which is where we can look for some bullish evidence to go long targeting the level of 1.13 followed by 1.1350.

 

Resistance levels: Support levels: Recommended:
 1.21
1.1419
▪ --
▪ -
 -
 1.1118

We are bullish as long as the pair is traded above the level of 1.1118.

  • GBPUSD

 

Update: The pair started going up as expected. As could be seen on the chart above that the pair is traded above a strong support level that is 1.2488. Therefore, we are bullish as long as the pair is traded above it. Our first target is 1.30

 

Resistance levels: Support levels: Recommended:
▪ 1.36
 1.3310
▪ 1.33
 -
 1.2488
 1.2450

We are bullish as long as the pair is traded above the support level of 1.2488

  • GOLD

 

Update: The pair went in the opposite direction. As could be seen on  that chart above that the pair is traded below a strong resistance level that is 1365. Therefore, we are bearish as long as the pair is traded below it. Our first target is 1310.

 

Resistance levels: Support levels: Recommended:
 1370
 1365
 1245
 1260
 1265

We are bearish as long as the pair is traded below the level of 1365.

  • AUDUSD

 

Update: We remain the same. The chart above shows that the pair is traded above a strong support level that is 0.6778 therefore, we are bearish as long as the pair is traded below it. Our first target is 0.70

 

Resistance levels: Support levels: Recommended:

▪ 0.7550
0.7600
0.7000

▪ 0.6778
-
▪ -

We are bearish as long as the pair is traded below the level of 0.6778

  • GBPJPY

 

Update: The pair is still traded in a very tight range. The chart above shows that the pair is about to reach a strong support level that could be found at 134. We will be looking for some bullish evidence around this area for an expected movement to the upside. This is conditioned by the continuation of trading above the support level of 134.

 

Resistance levels: Support levels: Recommended:
156
 155
 141

 134
133
 132

Waiting for some bullish evidence to show up.

 

Disclaimer: The information contained in this publication is produced by Land-FX and not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects Land-FX current judgment and may change without notice. This message is for information purposes only and is not intended as an offer, recommendation or solicitation to buy or sell, nor is it an official confirmation of terms. No representation or warranty is made that this information is complete or accurate. Any views or opinions expressed do not necessarily represent that Land-FX. This email and the information it contains may be confidential, proprietary or legally privileged. You must not, directly or indirectly, use, disclose, distribute, copy or store this message or any part of it if you are not the intended recipient. Unless otherwise stated, any pricing information given in this email is indicative only, is subject to changes and does not constitute an offer to deal at any price quoted.