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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

12 April 2018

powered by Land-FX

UK Services PMI: Thursday, 8:30. As in the US and most developed economies, the services sector is the most important one, and the financial services industry is especially eyed. Markit’s PMIs culminate with this event. After seeing OK growth with 54.5 points in February, a similar score of 54.2 is expected for March.

USD
UK Services PMI

  • EURUSD

Update: We remain the same. As could be seen on the daily chart that the pair is on its way to reach the resistance levels of 1.2440 – 1.25 so we believe that if the pair reaches one of those levels, we can go short targeting the level of 1.24 followed by 1.2350 during the week. This is conditioned by the continuation of trading below the level of 1.2550.

 

Resistance levels: Support levels: Recommended:
 1.2550
▪ 1.2440
▪ --
▪ 1.22
 1.21
 1.1550

We are bearish as long as the pair is traded below the level of 1.2550.

  • GBPUSD

Update: We remain the same. As could be seen on the daily chart that the pair is on its way to reach the resistance levels of 1.4270 – 1.4340. This is where we can go short if the pair shows some negative factors below them. If this happens, we can go short targeting the level of 1.40 followed by 1.3950 during the week.

 

Resistance levels: Support levels: Recommended:
▪ 1.4340
 1.4200
 --
▪ 1.3800
 1.3700
 1.3600

We are bearish as long as the pair is traded below the level of 1.4340..

  • GOLD

Update: The pair started going down. For the fifth time, the pair is traded below strong resistance levels that could be found at 1365 to 1350. So, we are bearish as long as the pair is traded below them. Our first target is: 1330 followed by 1320.

 

Resistance levels: Support levels: Recommended:
 1350
 1365
 --
 1310
 1300
 1290

We are bearish as long as the pair is traded below the level of 1365.

  • AUDUSD

Update: We remain the same. As could be seen on the daily chart that the pair is traded within a descending channel. Having the pair traded below the upside of the channel can open the door for further downward movements during the week that it can reach the level of 0.7671.

 

 

Resistance levels: Support levels: Recommended:

▪ 0.8000
0.7900
▪ --

▪ 0.7700
▪ 0.7600
▪ 0.7500

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

  • GBPJPY

 

Update: On its way to hit its first target. The pair successfully formed a head and shoulders pattern as could be seen on the daily chart. The neck-line of the pattern is broken (150.30) so we are bullish as long as the pair is traded above it. Our first target is 153 followed by 154.

 

Resistance levels: Support levels: Recommended:
156
 155

147
 146

We are bullish as long as the pair is traded above the level of 150.30.

 

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