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

03 May 2024

powered by Land Prime

  • EURUSD

Update: Targets were hit. The pair has been trading above a strong support level that is 1.0600. Therefore, we are bullish as long as the pair is trading above it with targets: 1.0680 – 1.0720. On the other hand, a close below 1.0600 would push the pair towards 1.0400.

Resistance levels: Support levels: Recommended:
▪ 1.0850
▪ 1.0800
▪ 1.0720		 ▪ 1.0600
▪ 1.0550
▪ 1.0500

Bearish below 1.0600
  • GBPUSD

Update: Targets were hit. The pair has been trading below a strong resistance level that is the upside of the bearish channel. Therefore, we are bearish as long as the pair is trading below it with targets: 1.2350 – 1.2300. On the other hand, a daily close above 1.2500 would push the pair towards 1.2650 – 1.2700.

Resistance levels: Support levels: Recommended:
▪ 1.3000
▪ 1.2900
▪ 1.2800		 ▪ 1.2350
▪ 1.2300
▪ 1.2250

Bearish below 1.2500
  • GOLD

Update: We remain bullish. The pair has been trading above a strong support level that is 2290. Therefore, we are bullish as long as the pair is trading above it with targets: 2400 – 2450. On the other hand, a close below 2290 would push the pair towards 2250 – 2230.

Resistance levels: Support levels: Recommended:
▪ 3100
▪ 3050
▪ 3000		 ▪ 2300
▪ 2250
▪ 2200		 Bullish above 2290.

  • AUDUSD

Update: No changes. The pair has been trading below a strong resistance level that is 0.6500. Therefore, we are bearish as long as the pair is trading below it with targets: 0.6400 – 0.6360. On the other hand, the pair would be pushed upwards towards 0.6600 – 0.6650.

Resistance levels: Support levels: Recommended:

▪ 0.7000
▪ 0.6950
▪ 0.6700

▪ 0.6480
▪ 0.6450
▪ 0.6400

Bearish below 0.6480
  • GBPJPY

Update: No changes. The pair is trading above a strong support level that is 194 shown on the chart above. Therefore, we are bullish as long as the pair is trading above it with targets: 198 - 199.

Resistance levels: Support levels: Recommended:
▪ 200.00
▪ 199.00
▪ 198.00

▪ 195.00
▪ 194.00
▪ 192.00

Bullish above the downside of the bullish channel.

 

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