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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

17 October 2019

powered by Land-FX

Australian employment: Thursday, 00:30. Australia enjoyed several months of substantial gains in job creation. Employment Change stood at 34.7K back in August and a more moderate increase is likely in the figures due out for September. The Unemployment Rate stood at 5.3% and a similar level is likely now.

EU Summit on Brexit: Thursday, Friday. Leaders of the European Union convene for a regular summit, but the topic that dominates the agenda is extraordinary – sorting out Brexit just two weeks ahead of the deadline. Will Boris Johnson find common ground with his counterparts? And if he does compromise with them, will he continue receiving support from the hardliners in his party? A solution to the question of Northern Ireland’s status remains critical. Apart from reaching a deal, the other options are extending Brexit once again – as the Benn Act requires, or leaving without an accord.

 

 

AUD
Australian employment

EUR
EU Summit on Brexit

  • EURUSD

 

Update: the pair might continue going upwards. As could be seen on the chart above that the pair is heading towards the level of 1.1100. So, we will be waiting for the pair to reach this level, then in case it shows up some bearish evidence, we can go short. Let us see what will happen.

 

Resistance levels: Support levels: Recommended:
 1.1242
1.1180
▪ 1.1100
▪ -
 -
 1.0838

We are bearish as long as the pair is traded below the level of 1.1100.

  • GBPUSD

 

Update: We remain the same. As could be seen on the chart above that the pair managed to breakthrough a strong resistance level that is 1.2760. Therefore, we are bullish as long as the pair is traded above it. Our first target is: 1.29.

 

Resistance levels: Support levels: Recommended:
▪ 1.36
 1.3310
▪ 1.29
 -
 -
 1.2760

We are bullish as long as the pair is traded above the level of 1.2760

  • GOLD

 

Update: We remain the same. As could be seen on the chart above that the pair is traded within a bearish channel and exactly, below the upside of the channel. Therefore, we are bearish as long as the pair is traded below it. Our first target is 1478.

 

Resistance levels: Support levels: Recommended:
 1550
 1515
 1478
 1430
 1425
We are bearish as long as the pair is traded below the upside.

  • AUDUSD

 

Update: The pair started going upwards. We are waiting for the pair to reach the support level of 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: the pair started showing up bearing evidence below this level so we are bearish. As could be seen on the chart above that the pair is about to reach a strong resistance level that is 140. Therefore, we will be waiting for the pair to reach it, then will decide the next step based on how the price reacts below it.

 

Resistance levels: Support levels: Recommended:
142
 141
 140

 132
131
 130

Waiting for the pair to reach the resistance level.


 

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