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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

02 October 2024

powered by Land Prime

  • EURUSD

Update: The EURUSD pair is consolidating near the 1.1065 level. The immediate focus is on the 1.1200 resistance level; if the pair successfully breaks above this zone, it may head towards the next target at 1.1250, and potentially even 1.1300. However, a failure to maintain upward momentum could result in a retracement to the 1.0993 support level. The RSI indicator is currently at 45, indicating neutral conditions. This suggests that the market is not yet overbought, but there is room for movement in either direction. A break below 1.0993 would shift the outlook to bearish, with 1.0776 as the next potential support.

Resistance levels: Support levels: Recommended:
1.1260
1.1200
1.1150
1.0800
1.0750
1.0700

Bearish below 1.1260. 

  • GBPUSD

Update: GBPUSD is trading near 1.3292, and the price is showing bullish momentum as it approaches the resistance level at 1.3438. A break above this resistance would open the possibility of the pair moving towards the 1.3500 level. However, should the price fail to break higher, it could retrace back to 1.3200. The broader trend remains upward, but consolidation near current levels indicates that the bullish momentum could be losing strength in the short term. A break below 1.3200 would shift the sentiment to bearish, with the next significant support at 1.3027.

Resistance levels: Support levels: Recommended:
▪ 1.3700
1.3600
▪ 1.3500
1.3000
1.2900
1.2800

Bearish below 1.3000.

  • GOLD

Update: The price of gold is currently trading around the 2661 level, maintaining a strong bullish trend as it nears the significant resistance at 2684. Should the price manage to break above this resistance, it could pave the way for a move towards 2720, with the potential to extend gains to 2750. However, failure to break above 2684 could result in a retracement towards the 2591 support level. The current momentum, as indicated by the OsMA, shows signs of weakening, which suggests that the upward momentum may be temporarily stalling. A break below 2591 would indicate a shift in sentiment, potentially targeting 2510 as the next support level.

Resistance levels: Support levels: Recommended:
2890
2800
2700
2588
2550
2500
Bearish below 2588.

  • AUDUSD

Update: The AUDUSD pair is trading near 0.6892, following a period of upward momentum. The price is approaching a critical resistance at 0.6925, and a break above this level could see the pair targeting 0.6985. However, if the price fails to overcome this resistance, a pullback toward 0.6824 may occur. The OsMA indicator signals a potential loss of momentum, which may imply that the recent bullish run is weakening. A sustained move below 0.6824 could suggest a bearish outlook, with the next significant support around 0.6759.

Resistance levels: Support levels: Recommended:

▪ 0.7000
0.6900
0.6824

▪ 0.6700
0.6650
▪ 0.6600

Bearish below 0.6824

  • GBPJPY

 

Update: GBPJPY is currently trading around the 191.66 mark. The pair is testing resistance at 196.04, and if this level is breached, it could lead to further gains towards the 200.40 level. However, if the price is unable to maintain its current momentum, a decline towards 189.46 could occur. The OsMA indicator highlights a divergence, suggesting that the upward momentum may be weakening, which increases the likelihood of a potential retracement before any sustained move higher. A break below 189.46 would suggest further downside, with 188.10 as the next key level.

Resistance levels: Support levels: Recommended:
195.60
194.00
193.00

 186.50
186.00
185.55

Bullish above 188.80

 

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