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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

22 October 2019

powered by Land-FX

US Existing Home Sales: Tuesday, 14:00. Most transactions in the housing market are of existing, second-hand homes. The annualized volume of sales advanced in August to 5.49 million. Another rise may be seen in the figures for September. The situation has improved.

 

 

USD
US Existing Home Sales

  • EURUSD

 

The chart above shows that the pair is about to reach a strong resistance level that is the downtrend line. In case the pair reaches this level and shows up bearish evidence, we can go short targeting the level of 1.1060 during the week.

 

Resistance levels: Support levels: Recommended:
 1.1200
1.1180
▪ 1.1150
▪ -
 -
 1.1060

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

  • GBPUSD

 

Last week, the pair managed to break a strong downtrend line. Therefore, we are bullish as long as the pair is traded above the broken level. Out first target is 1.30

 

Resistance levels: Support levels: Recommended:
▪ 1.36
 1.3310
▪ 1.30
 -
 -
 1.2760

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

  • GOLD

 

The pair is still traded within a bearish channel that is shown on the chart above. We are bearish as long as the pair is traded below the upside. Our first target is 1478 followed by 1467

 

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

  • AUDUSD

 

The pair is about to reach a strong resistance level that is the down trendline shown on the chart in red. In case the pair reaches the downtrend, line and shows up some bearish evidence below it, we can go short targeting the level of 0.6740

 

Resistance levels: Support levels: Recommended:

▪ 0.7550
0.7600
▪ 0.
7000

▪ 0.6680
0.6650
▪ -

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

  • GBPJPY

 

The pair managed to break through a strong resistance level that is the downtrend line. Therefore, we are bullish as long as the pair is traded above it. Our first target is: 143.70.

 

Resistance levels: Support levels: Recommended:
142
 141
 140

 132
131
 130

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


 

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