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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

25 October 2019

powered by Land Prime

German Ifo Business Climate: Friday, 8:00. The No. 1 Thinktank in the continent’s largest economy has recently shown a minor uptick in sentiment after several months of downfalls. The 7,000-strong survey may remain at a similar score to 94.6 seen in September.

 

 

 EUR
German Ifo Business Climate

  • EURUSD

 

Update: No changes, so we remain the same. 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

 

Update: Waiting for bullish evidence as it is still traded above the broken downtrend line. 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

 

Update: Our first target was hit but the pair broke the upside of the channel which opens the door for further upward movement. 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

 

Update: We are bearish. 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

 

Update: We remain the same. 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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