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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

07 February 2017

powered by Land Prime

Australian rate decision: The Reserve Bank of Australia maintained its benchmark interest rate at 1.50% and kept its monetary policy unchanged in December. The decision was in line with market forecast. RBA noted that low inflation, slow wage growth and weak expansion were the main reasons behind this decision. However the central bank believes conditions will improve in the coming months thanks to above average business confidence.

AUD
Australian Rate Decision
Your capital is at risk!
 
  • EURUSD

As could be seen on the chart that the pair is about to break through the uptrend line so if it makes it, then the way is open for the pair to reach at least the level of 1.0620 during the day.

Resistance levels: Support levels: Recommended:
1.0730
▪ --
--
1.0620
▪ --
--
We remain bearish as long as the pair is traded below the level of 1.0730.
Your capital is at risk!
  • GBPUSD

The pair is traded above a strong support level around 1.2420 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1.2500 during the day. If the pair breaks through the level of 1.2400 then the way would be open for the pair to reach the level of 1.2300.

Resistance levels: Support levels: Recommended:
1.2500
▪ --
--
1.2400
▪ 1.2300
--
We remain bullish as long as the pair is traded above the level of 1.2500
Your capital is at risk!
  • GOLD

The gold is traded above a strong support level above 1225 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1242 during the day.

Resistance levels: Support levels: Recommended:
1240
1242
--
1225
1220
1215
We remain bullish as long as the pair is traded below the level of 1225.
Your capital is at risk!
  • AUDUSD

The pair may continue going down to reach the level of 0.7600 so if the pair respects this level and if it shows positive factors above it, we may go long targeting the level of 0.7700 during the day.

Resistance levels: Support levels: Recommended:
0.7700
▪ 0.7730
▪ --
0.7600
▪ 0.7530
--
We remain bullish as long as the pair is traded below the level of 0.7600
Your capital is at risk!
  • GBPJPY

The pair is traded above a strong support level around 139 so we believe as long as the pair is traded above it, it is highly recommended to go long targeting the level of 140.50 during the day. On the other hand, breaching the level of 139 opens the door for the pair to reach the level of 138.20

Resistance levels: Support levels: Recommended:
140
140.75
--

139
138.20
--

We remain bullish as long as the pair is traded above the level of 139
Your capital is at risk!