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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

16 Mar 2021

powered by Land-FX

ADP Nonfarm Employment Report: Thursday, 12:30.  The ADP report painted a grim portrait of the labor market in January, with a reading of -231.2 thousand. We now await the February data.

 

USD

ADP Nonfarm Employment Report

 

  • EURUSD

 

As could be seen on the chart above that the pair is trading below a strong resistance level that is 1.2000. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.1950 followed by 1.1900.

 

Resistance levels: Support levels: Recommended:
 1.2200
1.2100
▪ 1.2000
▪ 1.1950
 1.1900
 1.1850

We are bearish as long as the pair is trading below 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 1.4000. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1.3900 followed by 1.3850.

 

Resistance levels: Support levels: Recommended:
▪ 1.4150
 1.4100
▪ 1.4000
 1.3900
 1.3850
 1.3800

We are bearish as long as the pair is trading below the level of 1.4000.

  • GOLD

 

The chart above shows that the pair is trading below a strong resistance level that is 1760. Therefore, we are bearish as long as the pair is trading below it. Our first target is 1690 followed by 1600.

 

Resistance levels: Support levels: Recommended:
 1890
 1870
 1760
 1690
 1640
 1600
We are bearish as long as the pair is trading below 1760.

  • AUDUSD

 

The chart above shows that the pair is trading below a strong resistance level that is 0.7825. Therefore, we are bearish as long as the pair is trading below it. Our first target is 0.7700.

 

Resistance levels: Support levels: Recommended:

▪ 0.8000
0.7900
0.7825

▪ 0.7700
0.7650
▪ 0.7600

We are bearish as long as the pair is trading below the level of 0.7825.

  • GBPJPY

 

As could be seen on the chart above that the pair is trading above a strong support level that is 150.35. Therefore, we are bullish as long as the pair is trading above it. Our first is 152.

 

Resistance levels: Support levels: Recommended:
153.00
 152.50
 152.00

 150.35
150.00
 149.50

We are bullish as long as the pair is trading above the level of 150.35.


 

 

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