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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

13 May 2020

powered by Land-FX

British GDP: Wednesday, 4:30. The quarterly GDP reading for Q4 in 2019 slowed to 0.0%, down from 0.3% in the previous quarter. Analysts are braced for a contraction of 2.5% in Q1 of 2020. Monthly GDP showed that the economy contracted by 0.1% in February, and the estimate for March stands at a staggering -7.9%, as Covid-19 is expected to have caused a huge jolt to the British economy.

 

 

GBP
British GDP

  • EURUSD

 

Update: On its way to its first target. The chart above shows that the pair is trading below a strong resistance level that is 1.0875. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.0800.

 

Resistance levels: Support levels: Recommended:
 1.0950
1.0900
▪ 1.0875
▪ 1.0800
 1.0730
 1.0700

We are bearish as long as the pair is trading below the level of 1.0875.

  • GBPUSD

 

Update: On its way to its first target. As could be seen on the chart above that the pair is about breaching a strong support level that is 1.2260. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.2180.

 

Resistance levels: Support levels: Recommended:
▪ 1.2450
 1.2430
▪ 1.2400
 1.2261
 1.2180
 1.2120

Waiting for the pair to confirm its next movement.

  • GOLD

 

Update: No changes, we remain the same. As could be seen on the chart above that the pair is trading above a strong support level that is 1690. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1720 followed by 1740.

 

Resistance levels: Support levels: Recommended:
 1740
 1420
 1710
 1690
 1680
 1670
We are bullish as long as the pair is trading above the level of 1690.

  • AUDUSD

 

Update: On its way to target. As could be seen on the chart above that the pair is trading below a strong resistance level that is 0.6600. Therefore, we are bearish as long as the pair is trading below it. Our first target is 0.6375 followed by 0.6320.

 

Resistance levels: Support levels: Recommended:

▪ 0.6700
0.6650
0.6600

▪ 0.6375
0.6320
▪ 0.6300

We are bearish as long as the pair is trading below the level of 0.66.

  • GBPJPY

 

Update: The pair is about reaching its first target. As could be seen on the chart above that the pair is trading below a strong resistance level that is 133.30. Therefore, we are bearish as long as the pair is trading below it. Our first target is 129.50

 

Resistance levels: Support levels: Recommended:
133.00
 132.30
 132.00

 129.00
128.50
 128.00

We are bearish as long as the pair is traded below the level of 133.30


 

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