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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

31 August 2021

powered by Land-FX

we are waiting for:

Tuesday

  • New Zealand: Building Permits (JUL)
  • China: NBS Manufacturing PMI (AUG)
  • China: Non-Manufacturing PMI (AUG)
  • EU: Inflation Rate Flash (AUG)
  • Canada: GDP Growth Rate (Q2)
  • US: Chicago PMI (AUG)
  • US: Consumer Confidence (AUG)
  • EURUSD

 

As could be seen on the chart above that the pair is trading below a strong resistance level that is the upside of the bearish channel. Therefore, we are bearish as long as the pair is trading below it with targets: 1.1750 followed by 1.1700. On the other hand, if the level of resistance level is broken, the pair might continue going upwards to reach 1.1900 followed by 1.1950.

Resistance levels: Support levels: Recommended:
 1.1950
1.1900
▪ 1.1870
▪ 1.1750
 1.1700
 1.1685

We are bearish as long as the pair is trading below the upside of the bearish channel.

  • GBPUSD

 

The chart above shows that the pair is trading below a strong resistance level that is the downtrend line. Therefore, we are bearish as long as the pair is trading below it with targets: 1.3680 followed by 1.3600. On the other hand, if the downtrend line is broken, the pair might continue going upwards to reach 1.3878.

 

Resistance levels: Support levels: Recommended:
▪ 1.4000
 1.3950
▪ 1.3878
 1.3680
 1.3600
 1.3526

We are bearish as long as the pair is trading below the downtrend line.

  • GOLD

 

The chart above shows that the pair is trading below a strong resistance level that is 1835. Therefore, we are bearish as long as the pair is trading below it with targets: 1730 followed by 1700. On the other hand, if the level of 1835 is broken, the pair might continue going upwards to reach 1860 followed by 1900.

 

Resistance levels: Support levels: Recommended:
 1900
 1860
 1835
 1730
 1700
 1685
We are bearish as long as the pair is trading above 1835.

  • AUDUSD

 

The chart above shows that the pair is trading above 0.7280. Therefore, we are bullish as long as the pair is trading above it with targets: 0.7400 followed by 0.0.7450. On the other hand, if the level of 0.7280 is broken, the pair might continue going downwards to reach 0.7230 followed by 0.7200.

 

Resistance levels: Support levels: Recommended:

▪ 0.7500
0.7450
0.7400

▪ 0.7280
0.7230
▪ 0.7200

We are bullish as long as the pair is trading above 0.7280

  • GBPJPY

 

The chart above shows that the pair is trading above 151. Therefore, we are bullish as long as the pair is trading above it with targets: 152 followed by 152.30.

 

Resistance levels: Support levels: Recommended:
153.00
 152.30
 152.00

 151.00
150.50
 150.00

We are bullish as long as the pair is trading above 151.00.


 

 

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