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Market Research & Info

Land Prime 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

21 August 2020

powered by Land Prime

UK Manufacturing PMI: Friday, 8:30. The manufacturing sector is showing slight expansion. The PMI posted a reading of 53.3 in July and the forecast for the initial August read stands at 54.0. The 50-level separates expansion from contraction.

UK Services PMI: Friday, 8:30. The index punched into expansion territory in July, climbing from 47.0 to 56.5. The forecast for the initial reading for August is 57.0.

 

 

GBP
UK Manufacturing PMI
UK Services PMI

  • EURUSD

 

Update: The target to the downside was hit. 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

 

Update: The target to the downside was hit. 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

 

Update: The target to the downside was hit. 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

 

Update: No changes. 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

 

Update: The target to the downside was hit. 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.

 

 

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