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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

08 December 2020

powered by Land Prime

German ZEW Economic Sentiment: Tuesday, 10:00. The indicator has been falling fast and fell to 39.0 in November, which points to deep contraction. The December estimate stands at 45.2 points.

 

 

EUR
German ZEW Economic Sentiment

  • EURUSD

 

The chart above shows that the pair is trading above a strong support level that is 1.2080. Therefore, we are bullish as long as the pair is trading above it. Our first target is 1.2160.

 

Resistance levels: Support levels: Recommended:
 1.2200
1.2150
▪ 1.2100
▪ 1.2080
 1.2030
 1.2000

We are bullish as long as the pair is trading above the level of 1.2080.

  • GBPUSD

 

As could be seen on the chart above that the pair is trading below a strong resistance level that is 1.3400. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.3150.

 

Resistance levels: Support levels: Recommended:
▪ 1.3500
 1.3450
▪ 1.3400
 1.3150
 1.3100
 1.3050

We are bearish as long as the pair is trading below the level of 1.3400.

  • GOLD

 

The chart above shows that the pair is trading below a strong resistance level that is 1880. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1840.

 

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

  • AUDUSD

 

The chart above shows that the pair is trading below a strong resistance level that is 0.7450. 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 0.7450 is broken, we might go long targeting the level of 0.7500 followed by 0.7550.

 

Resistance levels: Support levels: Recommended:

▪ 0.7550
0.7500
0.7400

▪ 0.7300
0.7250
▪ 0.7200

We are bearish as long as the pair is trading below the level of 0.7450.

  • GBPJPY

 

The chart above shows that the pair is trading below a strong resistance level that is 139.50. Therefore, we are bearish as long as the pair is trading below it. Our first target is 138.50 followed by 137.50.

 

Resistance levels: Support levels: Recommended:
140.00
 139.00
 139.00

 138.50
138.00
 137.50

We are bearish as long as the pair is trading below the level of 139.50.


 

 

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