News & Research

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

18 August 2020

powered by Land-FX

RBA Monetary Policy Meeting Minutes: Tuesday, 1:30. The RBA minutes provide details of the policy meeting held earlier this month. At the meeting, the bank maintained rates at 0.25%, where it has been pegged since March. The bank’s rate statement warned that the economic outlook remains highly uncertain in the wake of the Covid-19 pandemic. A dovish tone from the minutes could weigh on the Aussie.

Federal Reserve Policy Meeting Minutes: Tuesday, 1:30. The Federal Reserve has been cautious, maintaining rates close to zero during the current economic crunch. With the US economy showing signs of recovery, it will be interesting to see if Fed policymakers sound bullish about the economy in the minutes. If this is the case, the US dollar could get a boost.

 

 

AUD
RBA Monetary Policy Meeting Minutes

USD
Federal Reserve Policy Meeting Minutes

  • EURUSD

 

The chart above shows that the pair is trading above a strong support level that is 1.1900. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1.1960. On the other hand, if the pair goes downwards below the level of 1.1900. We can go short targeting 1.1800.

 

Resistance levels: Support levels: Recommended:
 1.1980
1.1950
▪ 1.1940
▪ 1.1900
 1.1850
 1.1800

We are bullish as long as the pair is trading above the level of 1.1900.

  • GBPUSD

 

The chart above shows that the pair is trading above a strong support level that is 1.3170. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1.3300. On the other hand, if the level of 1.3170 is breached, we can go short targeting the level of 1.3090.

 

Resistance levels: Support levels: Recommended:
▪ 1.3320
 1.3300
▪ 1.3290
 1.3170
 1.3100
 1.3090

We are bullish as long as the pair is trading above the level of 1.3170.

  • GOLD

 

As could be seen on the chart above that the pair is trading below a strong resistance level that is 2016. Therefore, we are bearish as long as the pair is trading below it. Our first target in this case is 1980 followed by 1940. On the other hand, if the level of 2016 is broken, we can go long targeting the level of 2040.

 

Resistance levels: Support levels: Recommended:
 2060.00
 2040.00
 2016.00
 1980.00
 1960.00
 1930.00
We are bearish as long as the pair is trading below the level of 2016.

  • AUDUSD

 

The chart above shows that the pair is trading above a strong support level that is 0.7050. Therefore, we are bullish as long as the pair is trading above it. First target is 0.7280.

 

Resistance levels: Support levels: Recommended:

▪ 0.7320
0.7280
0.7250

▪ 0.7050
0.7025
▪ 0.7000

We are bullish as long as the pair is trading above the level of 0.7050.

  • GBPJPY

 

The chart above shows that the pair is trading below a strong resistance level that is 140. Therefore, we are bearish as long as the pair is trading below it. Our first target is 138.50.

 

Resistance levels: Support levels: Recommended:
140.30
 140.15
 140.00

 138.50
138.21
 138.00

We are bearish as long as the pair is trading below the level of 140.00.


 

 

Disclaimer: The information contained in this publication is produced by Land-FX and not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects Land-FX current judgment and may change without notice. This message is for information purposes only and is not intended as an offer, recommendation or solicitation to buy or sell, nor is it an official confirmation of terms. No representation or warranty is made that this information is complete or accurate. Any views or opinions expressed do not necessarily represent that Land-FX. This email and the information it contains may be confidential, proprietary or legally privileged. You must not, directly or indirectly, use, disclose, distribute, copy or store this message or any part of it if you are not the intended recipient. Unless otherwise stated, any pricing information given in this email is indicative only, is subject to changes and does not constitute an offer to deal at any price quoted.