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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

29 October 2019

powered by Land-FX

US CB Consumer Confidence: Tuesday, 14:00. The Conference Board’s gauge of economic sentiment has dropped off the peak levels but remains elevated. Indeed, consumers disappointed retailers in September. The figure for October is set to rise from 125.1 to 128.2 points.

 

 

USD
US CB Consumer Confidence

  • EURUSD

 

The pair has been traded below the downtrend line for a long time which confirms the strength of the downtrend. Therefore, we are bearish as long as the pair is traded below the downtrend line. First target: 1.1000.

 

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

 

The chart above shows that the pair is traded above a strong support level that is 1.2735. Therefore, we are bullish as long as the pair is traded above it. Our first target is 1.2900 followed by 1.3000. Conditioned by the continuation of trading above the level of 1.2735.

 

Resistance levels: Support levels: Recommended:
▪ 1.36
 1.3310
▪ 1.30
 -
 -
 1.2735

We are bullish as long as the pair is traded above the level of 1.2735.

  • GOLD

 

Last week, we had a false breakout to the upside of the downward channel shown on the chart above. Therefore, we are bearish as long as the pair is traded below the upside of the channel. Our first target is: 1475.

 

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 traded below a strong resistance level that is 0.6885. Therefore, we are bearish as long as the pair is traded below it. Our first target is 0.68 followed by 0.67.

 

Resistance levels: Support levels: Recommended:

▪ 0.7550
0.7600
▪ 0.
7000

▪ 0.68
0.67
▪ -

We are bearish as long as the pair is traded below the level of 0.6885.

  • GBPJPY

 

The chart above shows the pair is traded above a strong support level that is 138. Therefore, we are bullish as long as the pair is traded above it. Our first target is 141.20.

 

Resistance levels: Support levels: Recommended:
142
 141
 140

 132
131
 130

We are bullish as long as the pair is traded above the level of 138


 

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