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Market Research & Info

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

03 October 2019

powered by Land Prime

UK Services PMI: Thursday, 8:30. Markit’s series of three PMIs culminates with the publication for the services sector – Britain’s largest. Contrary to the manufacturing and construction sectors, services continued enjoying growth in August. The PMI stood at 50.6 points – in growth territory. A drop below the 50-point threshold cannot be ruled out now.

US ISM Non-Manufacturing PMI: Thursday, 14:00. Contrary to the manufacturing sector, services have been shining in the US as well. ISM’s gauge surprised with 56.4 points in August. A similar figure is on the cards now.

 

 

USD
US ISM Non-Manufacturing PMI

GBP
UK Services PMI

  • EURUSD

 

The weekly target was hit at 1.0838. The pair is above to reach a new strong resistance level that is the downtrend line shown on the chart in red. Let us wait until the pair reaches this level, then we can enter the market (go short).

 

Resistance levels: Support levels: Recommended:
 1.1242
1.1180
▪ 1.1000
▪ -
 -
 1.0838

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

  • GBPUSD

 

The pair broke through a strong resistance level that is 1.23 therefore it might continue going upwards that is might reach the level of 1.25.

 

Resistance levels: Support levels: Recommended:
▪ 1.36
 1.3310
▪ 1.2550
 -
 -
 1.2150

We are bullish as long as the pair is traded above the level of 1.23

  • GOLD

 

The pair went upwards again to be traded above the level of 1490. Therefore, it might continue going upwards that it might reach the level of 1530 during the week.

 

Resistance levels: Support levels: Recommended:
 1550
 1540
 1450
 1430
 1425
We are bullish as long as the pair is traded above the level of 1490.

  • AUDUSD

 

Update: On its way to its final target. As could be seen on the chart above that the pair is traded above a strong support level that is 0.6680. We can go long in case the pair shows up some bullish evidence above this level. Our first target is: 0.6900

 

Resistance levels: Support levels: Recommended:

▪ 0.7550
0.7600
▪ 0.
7000

▪ 0.6680
0.6650
▪ -

We are bullish.

  • GBPJPY

 

Update: We remain the same. The chart above shows that the pair is about to reach a strong support level that is 131 Therefore, we are bearish. Our first target is 130.77.

 

Resistance levels: Support levels: Recommended:
135
 136
 136.50

 132
131
 130

We are bullish.


 

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