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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

28 September 2021

powered by Land-FX

On Monday, the US will publish its economic summary which will include durable goods orders for August. The data alone is unlikely to cause a significant market reaction. Data on consumer confidence will be released by the Conference Board on Tuesday.

US Bureau of Economic Analysis will release its final figure for Gross Domestic Product (GDP) growth for the second quarter on Thursday. The Department of Labor will also publish its weekly jobless claim figures as well.

In addition to the ISM manufacturing purchasing managers’ index and the University of Michigan consumer sentiment data on Friday, the Fed’s preferred measure of inflation, the Core Personal Consumption Expenditures (PCE), will also be scrutinized for new signs of momentum.

 

  • EURUSD

 

As could be seen on the chart above that the pair is trading above a strong support level that is 1.1660. Therefore, we are bullish as long as the pair is trading above it with targets: 1.1750 followed by 1.1800. On the other hand, if the level of 1.1660 is broken, the pair might continue going downwards to reach 1.1600 followed by 1.1550.

 

Resistance levels: Support levels: Recommended:
 1.1900
1.1850
▪ 1.1750
▪ 1.1660
 1.1600
 1.1550

We are bullish as long as the pair is trading above 1.1660.

  • GBPUSD

 

As could be seen on the chart above that the pair is above breaking the support level of 1.3560. After the breakout is confirmed, the pair might continue going downwards to reach 1.3250. If there is no breakout, the pair might be pushed upwards to reach 1.3950.

 

Resistance levels: Support levels: Recommended:
▪ 1.4000
 1.3900
▪ 1.3750
 1.3500
 1.3460
 1.3200

Waiting for the pair to confirm its next movement.

  • GOLD

 

The level of 1834 remains firm. The pair has been trading below this level of a few weeks. As a result, the pair might continue going downwards to reach 1700.

 

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 a strong support level that is 0.7200. Therefore, we are bullish as long as the pair is trading above it with targets: 0.7300. On the other hand, if the level of 0.7200 is broken, the pair might continue going downwards to reach 0.7100.

 

Resistance levels: Support levels: Recommended:

▪ 0.7600
0.7400
0.7300

▪ 0.7200
0.7100
▪ 0.7030

We are bullish as long as the pair is trading above 0.7200.

  • GBPJPY

 

The chart above shows that the pair is trading below a strong resistance level that is 152.50. Therefore, we are bearish as long as the pair is trading below that level with targets: 150.50 followed by 150.

 

Resistance levels: Support levels: Recommended:
153.50
 153.00
 152.50

 150.50
150.00
 149.50

We are bearish as long as the pair is trading below 152.50.


 

 

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