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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

13 November 2020

powered by Land-FX

GDP: Friday, 10:00. After a dismal Q2, when the eurozone contracted by 12.1%, a strong rebound is expected in Q3, with a forecast of 12.7%. If the actual reading is within expectations, the euro could receive a boost.

 

 

EUR
GDP

  • EURUSD

 

Update: No changes - we remain the same. As could be seen on the chart above that the pair is trading below a strong resistance level that is 1.1965. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.1750.

 

Resistance levels: Support levels: Recommended:
 1.2020
1.1980
▪ 1.1950
▪ 1.1760
 1.1730
 1.1700

We are bearish as long as the pair is trading below the level of 1.1965

  • GBPUSD

 

Update: No changes. As could be seen on the chart above that the pair is trading above a strong support level that is 1.3100. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1.3300.

 

Resistance levels: Support levels: Recommended:
▪ 1.3150
 1.3100
▪ 1.3000
 1.2900
 1.2850
 1.2790

We are bullish as long as the pair is trading above the level of 1.3300.

  • GOLD

 

Update: Target was hit. The chart above shows that the pair is trading above a strong support level that is 1849. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1885.

 

Resistance levels: Support levels: Recommended:
 1955
 1950
 1940
 1849
 1825
 1800
We are bullish as long as the pair is trading above the level of 1849.

  • AUDUSD

 

Update: We remain bearish. The chart above shows that the pair is trading below the level of 0.7400 Therefore, we are bearish as long as the pair is trading below it. Our first target is 0.7150.

 

Resistance levels: Support levels: Recommended:

▪ 0.7400
0.7380
0.7360

▪ 0.7250
0.7215
▪ 0.7200

We are bearish as long as the pair is trading below the level of 0.7400

  • GBPJPY

 

Update: The pair started going downwards as expected. As could be seen on the chart above that the pair is trading below a strong resistance level that is 141. Therefore, we are bearish as long as the pair is trading below it. Our first target is 138

 

Resistance levels: Support levels: Recommended:
142.00
 141.50
 141.00

 136.00
135.80
 135.50

We are bearish as long as the pair is trading below the level of 141.


 

 

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