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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

16 Feb 2021

powered by Land-FX

Eurozone GDP: Tuesday, 10:00. The Covid pandemic has resulted in huge swings in the economy, with GDP readings of -12.1% and +12.6% in Q2 and Q3 of 2021, respectively. The economy is expected to level off in Q4, with an estimate of -0.7%.

 

EUR

Eurozone GDP

 

  • EURUSD

 

As could be seen on the chart above that the pair is trading below a strong resistance level that is 1.2185. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.2050 followed by 1.1948.

 

Resistance levels: Support levels: Recommended:
 1.2360
1.2285
▪ 1.2185
▪ 1.2080
 1.2050
 1.1948

We are bearish as long as the pair is trading below the level of 1.2185.

  • GBPUSD

 

As could be seen on the chart above that the pair is trading below a strong resistance level that is 1.3960. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.3772.  On the other hand, if the level of 1.3960 is broken, we might go long to target the level of 1.4100 followed by 1.4150.

 

Resistance levels: Support levels: Recommended:
▪ 1.3960
 1.3750
▪ 1.3700
 1.3570
 1.3540
 1.3520

We are bearish as long as the pair is trading below 1.3960

  • GOLD

 

The chart above shows that the pair is trading above a strong support level that is 1810. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1765.

 

Resistance levels: Support levels: Recommended:
 1910
 1900
 1810
 1790
 1760
 1725
We are bearish as long as the pair is trading below 1810.

  • AUDUSD

The chart above shows that the pair is trading below a strong resistance level that is 0.7820. Therefore, we are bearish as long as the pair is trading below it. Our first target is 0.7570.

 

Resistance levels: Support levels: Recommended:

▪ 0.8000
0.7900
0.7820

▪ 0.7564
0.7500
▪ 0.7450

We are bearish as long as the pair is trading below the level of 0.7820.

  • GBPJPY

 

As could be seen on the chart above that the pair is trading above a strong support level that is 146.50. Therefore, we are bullish as long as the pair is trading above it. Our first is 148 followed by 149.

 

Resistance levels: Support levels: Recommended:
147.00
 146.50
 146.00

 146.50
146.00
 145.25

We are bullish as long as the pair is trading above the level of 146.50.


 

 

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