News & Research

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

20 October 2020

powered by Land Prime

RBA Monetary Policy Meeting Minutes: Tuesday, 00:30. The Reserve Bank of Australia left interest rates unchanged at its policy meeting earlier this month, but dropped a broad hint that it could trim rates before the end of the year. The meeting minutes will shed some light on the deliberations at the meeting.

German PPI: Tuesday, 6:00. The Producer Price Index slowed to 0.0% in August, as German inflation levels remain low.  A small increase of 0.1% is forecast for September.

UK Inflation Report: Wednesday, 6:00. Consumer inflation slowed to 0.2% in August, but is expected to improve to 0.4% in the September release. Core CPI is projected to rise to 1.3%, up from 0.9% in August.

 

 

AUD
RBA Monetary Policy Meeting Minutes

EUR
German PPI

GBP
UK Inflation Report

  • 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 1.1800 followed by 1.1750.

 

Resistance levels: Support levels: Recommended:
▪ 1.1950
▪ 1.1900
▪ 1.1880		 ▪ 1.1800
▪ 1.1750
▪ 1.1700

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 a strong resistance level that is 1.3170. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.3100 followed by 1.3050.

 

Resistance levels: Support levels: Recommended:
▪ 1.3215
▪ 1.3200
▪ 1.3170		 ▪ 1.3100
▪ 1.3080
▪ 1.3050

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 below a strong resistance level that is 1932. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1920 followed by 1900.

 

Resistance levels: Support levels: Recommended:
▪ 1950
▪ 1940
▪ 1932		 ▪ 1920
▪ 1900
▪ 1886		 We are bearish as long as the pair is trading below the level of 1932.

  • AUDUSD

 

The chart above shows that the pair is trading above a strong support level that is 0.7030. Therefore, we are bullish as long as the pair is trading above it. Our first target is 0.7200 followed by 0.7230.

 

Resistance levels: Support levels: Recommended:

▪ 0.7275
▪ 0.7260
▪ 0.7240

▪ 0.7030
▪ 0.7000
▪ 0.6980

We are bullish as long as the pair is trading above the level of 0.7030.
  • GBPJPY

 

As could be seen on the chart above that the pair is trading below a strong resistance level that is 137.50. Therefore, we are bearish as long as the pair is trading below it. Our first target is 136.50 followed by 136

 

Resistance levels: Support levels: Recommended:
▪ 139.22
▪ 138.00
▪ 137.50

▪ 134.30
▪ 134.00
▪ 133.50

We are bearish as long as the pair is trading below the level of 137.50.

 

 

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