Balita at Pananaliksik

Pananaliksik at Impormasyon

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

26 October 2021

powered by Land Prime

A flurry of data awaits markets this week. 3Q GDP growth should prove robust in the euro area but soften markedly in the US. In line with last week’s PMIs, the euro area ESI survey and the German IFO are likely to continue losing momentum, as will China’s official non-manufacturing PMI. We see another increase in euro area inflation for October on the back of energy prices. Finally, the ECB and the BoJ are both expected to keep their policy unchanged.

 

  • EURUSD

 

As could be clearly seen on the chart above that the pair has been trading below a strong resistance level that is 1.1660. Therefore, we are bearish as long as the pair is trading below 1.1660 with targets: 1.1550 followed by 1.1528. On the other hand, if the level of 1.1660 is broken, the pair might continue going upwards to reach 1.1750.

 

Resistance levels: Support levels: Recommended:
 1.1760
1.1750
▪ 1.1660
▪ 1.1550
 1.1525
 1.1500

We are bearish as long as the pair is trading below 1.1665.

  • GBPUSD

 

As could be seen on the chart above that the pair is trading below a strong resistance level that is 1.3900. Therefore, we are bearish as long as the pair is trading below it with targets: 1.3700 followed by 1.3650. On the other hand, if the level of 1.3900 is broken, the pair could be heading towards 1.3950 followed by 1.4000.

 

Resistance levels: Support levels: Recommended:
▪ 1.4000
 1.3950
▪ 1.3900
 1.3700
 1.3650
 1.3600

We are bearish as long as the pair is trading below 1.3900.

  • GOLD

 

The chart above shows that the pair is trading below a strong resistance level that is 1815. Therefore, we are bearish as long as the pair is trading below it with targets: 1750 followed by 1722. On the other hand, if the level of 1815 is broken, the pair might continue going upwards to reach 1820 followed by 1834.

 

Resistance levels: Support levels: Recommended:
 1834
 1820
 1815
 1750
 1722
 1700
We are bearish as long as the pair is trading below 1800.

  • AUDUSD

 

As could be seen on the chart above that the pair is trading above 0.7450. Therefore, we are bullish as long as the pair is trading above it with targets: 0.7550 followed by 0.7600. On the other hand, if the level of 0.7450 is broken, the pair might continue going downwards to reach 0.7450 followed by 0.7400.

 

Resistance levels: Support levels: Recommended:

▪ 0.7650
0.7600
0.7550

▪ 0.7450
0.7440
▪ 0.7400

We are bullish as long as the pair is trading above 0.7450.

  • GBPJPY

 

As could be seen on the chart above that the pair is trading above a strong support level that is 156..00 Therefore, we are bullish as long as the pair is trading above it with targets: 158 followed by 158.50.

 

Resistance levels: Support levels: Recommended:
160.00
 158.50
 158.00

 156.00
155.50
 155.00

We are bullish as long as the pair is trading above 156.


 

 

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