News & Research

Market Research & Info

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

24 February 2017

powered by Land Prime

The pair is facing a strong resistance level around 1.0595 so there are two ways that the pair may go through one of them during the day; the first thing is a breakout through the level of 1.0600 that it may open the door for the pair for further upward movement during the day that it may reach the level of 1.0700. The other thing is that if the pair respects the level of 1.0600 then a rebound is expected that it may go down targeting the level of 1.0550 during the day.

Resistance levels: Support levels: Recommended:
1.0600
-1.0700
--
1.0550
-1.0500
--
Follow the report
  • GBPUSD

The pair is traded above a strong support level around 1.2470 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1.2650 during the day. If the pair breaks through the level of 1.2470 then the way would be open for the pair to reach the level of 1.2400.

Resistance levels: Support levels: Recommended:
1.2670
-1.2700 
--
1.2470
▪ 1.2400
--
We remain bullish as long as the pair is traded above the level of 1.2470
  • GOLD

The Gold managed successfully to break through the level of 1242. The level of 1242 is acting now as a strong support level that if the pair respects that level it may continue going up to reach the level of 1263 during the day.

Resistance levels: Support levels: Recommended:
1263
1265
--
1242
1235
--
We remain bullish as long as the pair is traded above the level of 1242
  • AUDUSD

The pair is going to be traded near to very strong resistance levels around 0.7700 – 0.7730 so if the pair shows some negative factors below them, we may go short targeting the level of 0.7600 during the day.

Resistance levels: Support levels: Recommended:
0.7700
0.7730
--
0.7600
0.7530
--
We remain bearish as long as the pair is traded below the level of 0.7730
  • GBPJPY

The pair may continue going up to reach the level of 142 then a pullback is expected if the pair shows some negative factors that it may go down targeting the uptrend line shown on the chart. On the other hand, breaching the level of 142 can open the door for the pair to reach the level of 143 during the day.

Resistance levels: Support levels: Recommended:
142
143
--

140
 139
--

We remain bearish as long as the pair is traded below the level of 142.