News & Research

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

04 February 2020

powered by Land Prime

Spanish Unemployment Change: Tuesday, 8:00. After a sharp decline of 34.6 thousand in December, investors are bracing for a gain of 44.2 thousand in unemployment rolls in January.

 

 

EUR
Spanish Unemployment Change

  • EURUSD

 

As could be seen on the chart above that the pair is traded below a strong resistance level that is the downtrend line. Therefore, we are bearish as long as the pair is traded below it. Our first target is 1.0990.

 

Resistance levels: Support levels: Recommended:
▪ 1.1150
▪ 1.1100
▪ 1.1090		 ▪ 1.0990
▪ 1.1950
▪ 1.0900

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

 

The chart above shows that the pair is about reaching a strong support area located between: 1.2960 to 1.2900. Therefore, we will be waiting for the pair to reach that area then in case the pair shows up bullish evidence, we can go long targeting the level of 1.3100.

 

Resistance levels: Support levels: Recommended:
▪ 1.3400
▪ 1.3350
▪ 1.3300		 ▪ 1.2900
▪ 1.3000
▪ 1.2850

Waiting for the pair to reach the area mentioned in the report.

  • GOLD

 

As could be seen on the chart above that the pair is traded below a strong resistance level that is 1595. Therefore, we are bearish as long as the pair is traded below it. Our first target is 1555.

 

Resistance levels: Support levels: Recommended:
▪ 1590
▪ 1587		 ▪ 1570
▪ 1565
▪ 1555		 We are bearish as long as the pair is traded below the level of 1595.

  • AUDUSD

 

The chart above shows that the pair is traded above a strong support level that is 0.6688. Therefore, we are bullish as long as the pair is traded above it. Our first target is 0.6750.

 

Resistance levels: Support levels: Recommended:

▪ 0.7123
▪ 0.6988
▪ 0.6820

▪ 0.6750
▪ 0.6684
▪ 0.6600

We are bullish as long as the pair is traded above 0.6688.
  • GBPJPY

 

The chart above shows that the pair is traded above a strong support level that is 141. Therefore, we are bullish as long as the pair is traded above it. Our first target is 142.50 followed by 144.

 

Resistance levels: Support levels: Recommended:
▪ 146.50
▪ 146.00
▪ 144.20

▪ 141
▪ 140.50
▪ 140.00

We are bullish as long as the pair is traded above 141

 

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