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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

04 November 2020

powered by Land Prime

Services PMIs: Wednesday, 8:15 for Spain, 8:45 for Italy, final French figure at 8:50, final German one at 8:55, and final euro-zone number at 9:00. The services sector is expected to continue to indicate a contraction in October, with readings below the neutral 50-level. German and eurozone second estimates are projected to confirm the initial readings, at 48.9 and 46.2. respectively. The French second estimate is projected to confirm the initial reading of 46.5. Italy and Spain are expected to dip slightly, with estimates of 47.4 and 40.0, respectively.

 

 

EUR
Services PMIs

  • EURUSD

 

Update: We remain the same. The chart above shows that the pair is trading above a strong support level that is 1.1600. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1.1800 followed by 1.1900.

 

Resistance levels: Support levels: Recommended:
 1.1950
1.1900
▪ 1.1800
▪ 1.1600
 1.1580
 1.1550

We are bullish as long as the pair is trading above the level of 1.1600.

  • GBPUSD

 

Update: We remain the same. As could be seen on the chart above that the pair is trading below a strong resistance level that is 1.3200. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.2950 followed by 1.2900.

 

Resistance levels: Support levels: Recommended:
▪ 1.3300
 1.3250
▪ 1.3200
 1.2950
 1.2900
 1.2860

We are bearish as long as the pair is trading below the level of 1.3200.

  • GOLD

 

Update: We remain the same. As could be seen on the chart above that the pair is trading below a strong resistance level that is 1920. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1850. On the other hand, if the level of 1920 is broken, we can go long targeting the level of 1950 followed by 1980.

 

Resistance levels: Support levels: Recommended:
 1980
 1950
 1920
 1880
 1850
 1825
We are bearish as long as the pair is trading below the level of 1920.

  • AUDUSD

 

Update: We remain the same. As could be seen on the chart above 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 0.7250.

 

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

 

Update: No changes. We remain the same. The chart above shows that the pair is trading above a strong support level that is 133.50. Therefore, we are bullish as long as the pair is trading above it. Our first target is 137 followed by 137.50

 

Resistance levels: Support levels: Recommended:
138.00
 137.40
 137.00

 134.00
133.80
 133.50

We are bullish as long as the pair is trading above the level of 133.50


 

 

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