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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

07 August 2020

powered by Land-FX

RBA Monetary Policy Statement: Friday, 1:30. The RBA releases a policy statement each quarter. A dovish statement could sour investors on the Aussie, which has sparkled against the greenback in recent months.

Canada Employment Report: Friday, 12:30. The economy created almost a million jobs in June, with a reading of 952.9 thousand. This was up sharply from 289.6 thousand in May. Will we see another strong gain in the July release?

US Employment Report: Friday, 12:30. Wage growth has dropped in the US for two straight months. Another decline is expected in July, with an estimate of -0.5%. The economy created 4.8 million jobs in June, but this is expected to slow to 1.5 million in July.

 

 

USD
US Employment Report

CAD
Canada Employment Report

AUD
RBA Monetary Policy Statement

  • EURUSD

 

Update: Target was hit. 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

 

Update: Target was hit. 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

 

Update: We remain the same. 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

 

Update: We remain the same. 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

 

Update: Target was hit. 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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