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

1 March 2024

powered by Land Prime

  • EURUSD

Update: The chart above shows that the pair was able to form a double top pattern and managed to break through the confirmation line as seen on the chart. Therefore, we are bearish as long as the pair is trading below it. On the other hand, a close above 1.0750 would push the pair further upwards towards 1.0911.

Resistance levels: Support levels: Recommended:
▪ 1.1100
▪ 1.1080
▪ 1.0910		 ▪ 1.0700
▪ 1.0650
▪ 1.0600

Bearish below 1.0911
  • GBPUSD

Update: The pair has reached a strong support level that is the broken downtrend line as seen on the daily chart. Therefore, we are bullish as long as the pair is trading above it with targets: 1.2800 – 1.2880. On the other hand, if the price returns below the broken downtrend line (seen as a false breakout) the pair might continue going downwards to reach 1.2544.

Resistance levels: Support levels: Recommended:
▪ 1.3000
▪ 1.2900
▪ 1.2800		 ▪ 1.2544
▪ 1.2500
▪ 1.2450

Bullish above the broken downtrend line
  • GOLD

Update: A bullish flag pattern could be recognized on the h4 timeframe which is considered to be bullish evidence. In order for the pair to continue going upwards, a daily close above the upside of the pattern is needed. On the other hand, if the upside of the pattern remains solid, bears will be back into the scene with targets: 2140 – 2100.

Resistance levels: Support levels: Recommended:
▪ 2200
▪ 2180
▪ 2160		 ▪ 2140
▪ 2100
▪ 2000		 Bullish above 2140.

  • AUDUSD

Update: The chart above shows that the pair has been trading below a strong resistance that is 0.6600. Therefore, we are bearish as long as the pair is trading below it with targets: 0.6500 – 0.6400.

Resistance levels: Support levels: Recommended:

▪ 0.7000
▪ 0.6950
▪ 0.6700

▪ 0.6500
▪ 0.6400
▪ 0.6350

Bearish below 0.6600
  • GBPJPY

Update: Evidence of bullishness could be seen on the H4 timeframe. The pair managed to settle above the level of 191.30 with a bullish candle close above which. As a result, a target of 193 – 194 seen on short term conditioned by the continuation of trading above 191.

Resistance levels: Support levels: Recommended:
▪ 195.00
▪ 194.00
▪ 193.00

▪ 191.00
▪ 190.00
▪ 189.00

Bullish above 191

 

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