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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

02 December 2020

powered by Land-FX

German Retail Sales: Wednesday, 7:00. Retail sales slumped in September, with a reading of -2.2%. This marked a 5-month decline. However, a rebound is projected for October, with a consensus of 1.1%.

 

 

EUR

German Retail Sales

  • EURUSD

 

The chart above shows that the pair is trading above a strong support level that is 1.2000. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1.2100 followed by 1.2150.

 

Resistance levels: Support levels: Recommended:
 1.2200
1.2150
▪ 1.2100
▪ 1.2000
 1.1950
 1.1900

We are bullish as long as the pair is trading above the level of 1.2000.

  • GBPUSD

 

As could be seen on the chart above that the pair is trading below a strong resistance level that is 1.3500. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.3300 followed by 1.3250.

 

Resistance levels: Support levels: Recommended:
▪ 1.3600
 1.3550
▪ 1.3500
 1.3300
 1.3250
 1.3200

We are bearish as long as the pair is trading below the level of 1.3500.

  • GOLD

 

As could be seen on the chart above that the pair is trading above a strong support level that is 1820. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1840 followed by 1850.

 

Resistance levels: Support levels: Recommended:
 1880
 1850
 1840
 1820
 1810
 1800
We are bullish as long as the pair is trading above the level of 1820.

  • AUDUSD

 

The chart above shows that the pair is trading below a strong resistance level that is 0.7400. Therefore, we are bearish as long as the pair is trading below it. Our first target is 0.7300. On the other hand, if the level of 0.7400 is broken, we might go long targeting the level of 0.7450 followed by 0.7500.

 

Resistance levels: Support levels: Recommended:

▪ 0.7500
0.7450
0.7400

▪ 0.7300
0.7250
▪ 0.7200

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

  • 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 139 followed by 138.

 

Resistance levels: Support levels: Recommended:
141.00
 140.50
 140.00

 139.00
138.50
 138.00

We are bearish as long as the pair is trading below the level of 140.


 

 

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