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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

05 August 2020

powered by Land-FX

US ISM Non-Manufacturing PMI: Wednesday, 14:00. The services sector showed strong expansion in June, with a reading of 57.1. The July forecast stands at a respectable 55.0.

 

 

USD
US ISM Non-Manufacturing PMI

  • EURUSD

 

As could be seen on the chart above that the pair is trading below a strong resistance level that is 1.1900. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.1805.

 

Resistance levels: Support levels: Recommended:
 1.1970
1.1950
▪ 1.1900
▪ 1.1805
 1.1780
 1.1755

We are bearish as long as the pair is trading below the level of 1.1900.

  • GBPUSD

 

The chart above shows that the pair is trading below the level of 1.3170. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.3090.

 

Resistance levels: Support levels: Recommended:
▪ 1.3233
 1.3200
▪ 1.3170
 1.3090
 1.3050
 1.3000

We are bearish as long as the pair is trading below the level of 1.3170.

  • GOLD

 

The chart above shows that the pair is trading above a strong support level that is 2000. Therefore, we are bullish as long as the pair is trading above it. Our first target is 2070.

 

Resistance levels: Support levels: Recommended:
 2100
 2090
 2070
 2000
 1980
 1975
We are bullish as long as the pair is trading above the level of 2000.

  • AUDUSD

 

As could be seen on the chart above that the pair is trading above the level of 0.7100. Therefore, we are bullish as long as the pair is trading above it. Our first target is 0.7250.

 

Resistance levels: Support levels: Recommended:

▪ 0.7300
0.7250
0.7230

▪ 0.7100
0.7050
▪ 0.7010

We are bullish as long as the pair is trading above the level of 0.7100.

  • GBPJPY

 

As could be seen on the chart above that the pair is trading below the level of 139.70. Therefore, we are bearish as long as the pair is trading below it. Our first target is 138.20.

 

Resistance levels: Support levels: Recommended:
140.00
 139.70
 139.55

 138.20
138.00
 137.60

We are bearish as long as the pair is trading below the level of 139.70.


 

 

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