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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

17 March 2020

powered by Land Prime

RBA Monetary Policy Meeting Minutes: Tuesday, 0:30. The minutes provide details of the bank’s policy meeting earlier in March. At that meeting, the RBA lowered the benchmark rate from 0.75% to 0.50%. A pessimistic assessment by policymakers in the minutes could weigh on the Aussie.

UK Employment Data: Tuesday, 9:30. Wage growth slowed to 2.9% in December, the first time it has fallen below the 3.0% threshold since August 2018. The January forecast stands at 3.0%. Unemployment rolls slipped to 5.5 thousand in January, much lower than the estimate of 20.2 thousand. Another strong reading is expected, with a forecast of 6.2 thousand. The unemployment rate is expected to remain unchanged at 3.8%.

 

 

EUR
RBA Monetary Policy Meeting Minutes

GBP
UK Employment Data

  • EURUSD

 

As could be seen on the chart above that the pair is trading below a strong resistance level that is 1.1050. Therefore, we are bearish as long as the pair is traded below it. Our first target is 1.0880.

 

Resistance levels: Support levels: Recommended:
 1.1100
1.1080
▪ 1.1050
▪ 1.0880
 1.0850
 1.0800

We are bearish as long as the pair is traded below the level of 1.1.1050

  • GBPUSD

 

The chart above shows that the pair is about reaching a strong support level that is 1.2000. If the pair shows up bullish evidence above it, we can go long targeting the level of 1.2200. On the other hand, of the level of 1.2000 is broken, then the pair might continue going downwards to reach the level of 1.1900.

 

Resistance levels: Support levels: Recommended:
▪ 1.2200
 1.2150
▪ 1.2100
 1.2000
 1.1950
 1.1900

Waiting for the pair to confirm its next movement.

  • GOLD

 

The chart above shows that the pair is trading above a strong support level that is 1450. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1530.

 

Resistance levels: Support levels: Recommended:
 1600
 1550
 1530
 1450
 1420
 1400
We are bullish as long as the pair is trading above the level of 1450.

  • AUDUSD

 

As could be seen on the chart above that the pair is traded below a strong resistance level that is 0.6200. Therefore, we are bearish as long as the pair is traded below it. Our first target is 0.5800.

 

Resistance levels: Support levels: Recommended:

▪ 0.6300
0.6250
0.6200

▪ 0.5800
0.5750
▪ 0.5700

We are bearish as long as the pair is traded below the level of 0.6200

  • GBPJPY

 

The chart above shows that the pair is trading below a strong resistance level that is 130.45. Therefore, we area bearish as long as the pair is traded below it. Our first target is 127.00

 

Resistance levels: Support levels: Recommended:
131.00
 130.50
 130.45

 127.00
126.50
 126.00

We are bearish as long as the pair is traded below the level of 130.50


 

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