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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

16 June 2020

powered by Land-FX

German Inflation: Tuesday, 6:00. Inflation in the eurozone’s largest economy declined by 0.1%, indicative of weak economic conditions. The final read is expected to confirm this figure.

 

EUR
German Inflation

  • EURUSD

 

As could be seen on the chart above that the pair is trading above a strong support level that is 1.1200. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1.1300. On the other hand, if the pair breaks through the level of 1.1200 then we can go short targeting the level of 1.1170.

 

Resistance levels: Support levels: Recommended:
 1.1350
1.1325
▪ 1.1300
▪ 1.1200
 1.1170
 1.1120

We are bullish as long as the pair is trading above the level of 1.1200.

  • GBPUSD

 

The chart above shows that the pair is trading above a strong support level that is 1.2575. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1.2620. On the other hand, if the level of 1.2575 is broken, we can go short targeting the level of 1.2500.

 

Resistance levels: Support levels: Recommended:
▪ 1.2650
 1.2620
▪ 1.2600
 1.2575
 1.2550
 1.2500

We are bullish as long as the pair is trading above the level of 1.2575.

  • GOLD

The chart above shows that the pair is trading above a strong support level that is 1705. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1735 followed by 1740.

 

Resistance levels: Support levels: Recommended:
 1740
 1735
 1730
 1705
 1700
 1690
We are bullish as long as the pair is trading above the level of 1705.

  • AUDUSD

 

As could be seen on the chart above that the pair is trading below a strong resistance level that is 0.7000. Therefore, we are bearish as long as the pair is trading below it. Our first target is 0.6850 followed by 0.6830

 

Resistance levels: Support levels: Recommended:

▪ 0.7500
0.7300
0.7000

▪ 0.6880
0.6820
▪ 0.6800

We are bearish as long as the pair is trading below the level of 0.7000

  • GBPJPY

 

As could be seen on the chart above that the pair is trading below a strong resistance level that 136. Therefore, we are bearish as long as the pair is trading below it. Our first target is 133 followed by 132.

 

Resistance levels: Support levels: Recommended:
136.00
 135.50
 135.00

 133.00
132.50
 132.00

We are bearish as long as the pair is traded below the level of 136.


 

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