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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

05 October 2017

powered by Land Prime

 

 

ECB Meeting minutes: Thursday, 11:30. In its recent decision, the European Central Bank told us that it will probably make a decision in October. The minutes from that September meeting are released now, as we near the October meeting. Any details about the anticipated decision about QE tapering will move markets. A slower tapering will hurt the euro while a quicker end will boost it.

USD
ECB Meeting minutes
 

  • EURUSD



Update: We remain the same. The pair managed to breakthrough a strong support level that could be found at 1.1840 so this may open the door for the pair for further downward movement during the week that it may reach the level of 1.1650.

 

 

 

Resistance levels: Support levels: Recommended:
▪ 1.2000
▪ 1.2100
▪ 1.1840		 ▪ 1.1700
▪-1.1650
▪ 1.1600

The breakout for the level of 1.1840 is confirmed so the way is open for the pair to reach 1.1650.
  • GBPUSD



Update: We remain bearish. The pair confirmed the breakout of the level of 1.3450 so this may help the USD to gain value against the GBP that is may reach the level of 1.3150 followed by 1.3100.



Resistance levels: Support levels: Recommended:
▪ 1.3700
▪ 1.3650

 ▪ 1.3300
▪ 1.3200
▪ 1.2700

The breakout of the level of 1.3450 is confirmed. Therefore, we may go short targeting the level of 1.3300 followed by 1.3200.

  • GOLD



Update: We remain bullish. The pair is traded above a strong support level that can be found at 1267 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 1290 during the week. On the other hand, if the level of 1267 is breached then we can go short targeting the level of 1260 followed by 1250.

 


Resistance levels: Support levels: Recommended:

▪ 1350
▪ 1340
▪ 1290

 ▪ 1267
▪ 1265
▪ 1260

We remain bullish as long as the pair is traded above the level of 1267.
  • AUDUSD



Update: We remain bullish. The pair successfully reached the level of 0.7800.  The pair is now traded above the level of 0.7800 so this is considered to be bullish that the pair may continue going up to reach the level of 0.8000 during the week. On the other hand, if the pair managed to break through the level of 0.7800 then it may continue going down to reach the level of 0.7600.

 

 

Resistance levels: Support levels: Recommended:
▪ 0.8100
▪ 0.8060		 ▪ 0.7800
▪ 0.7600
▪ 0.7500

We remain bullish as long as the pair is traded above the level of 0.7800.
  • GBPJPY



Update: We remain bullish. As could be seen on the weekly chart that the pair is traded above a strong support level that could be found at 150 so we believe that as long as the pair is traded above it, it is highly recommended to go long targeting the level of 154 followed by 155 during the week.

 

 

Resistance levels: Support levels: Recommended:
▪ 152
▪ 151
▪ 155

▪ 148
▪ 147

Expected to show more bearish pressures.