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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

10 October 2024

powered by Land Prime

  • EURUSD

Update: EURUSD is lingering near 1.0938, waiting for a catalyst. The key area to watch is the resistance at 1.1000—breaking above that could open the door to 1.1120. Should the bulls fail, support at 1.0776 may come into play. The RSI is dipping to oversold levels around 33, suggesting there could be room for a bounce, but a break under 1.0776 might signal further declines towards 1.0594. Suggested levels to target: 1.0850 – 1.0790.

Resistance levels: Support levels: Recommended:
1.1260
1.1200
1.1000
1.0800
1.0750
1.0700

Bearish below 1.1000. 

  • GBPUSD

Update: GBPUSD is consolidating just above 1.3061 after a recent drop. If it regains strength, the next target would be 1.3268, and a further move toward 1.3339 isn't off the table. However, if the pair loses ground, a retrace to 1.2989 seems likely. The 200-day moving average is sitting below as support, but a dip under 1.2989 might shift the market's focus to 1.2659.

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

Bearish below 1.3000.

  • GOLD

Update: Gold is currently hovering around the 2608 level, caught between key levels. The next major hurdle is 2684; if the price pushes above that, we could see it move toward 2719. However, failure to break higher might trigger a pullback to support around 2527.57. The OsMA indicator suggests momentum is fading, signaling a potential dip. A drop below 2527 would confirm a bearish shift, possibly heading towards 2490.

Resistance levels: Support levels: Recommended:
2890
2800
2700
2588
2550
2500
Bearish below 2527.

  • GOLD
  • AUDUSD

Update: AUDUSD is consolidating around 0.6715, with attention on the resistance at 0.6824. A clear breakout could see the pair aiming for 0.6888. On the flip side, if the upward drive falters, expect a slide back to 0.6622. The OsMA is slightly negative, hinting at weak selling pressure, but overall momentum is subdued. A break below 0.6622 would likely lead to further losses, with the next stop at 0.6579.

Resistance levels: Support levels: Recommended:

▪ 0.7000
0.6900
0.6824

▪ 0.6700
0.6650
▪ 0.6600

Bearish below 0.6824

  • GBPJPY

 

Update: The GBPJPY pair is consolidating around 194.82, with resistance located at 195.95. A breakout above this resistance could push the pair towards the psychological level of 200.40. However, a failure to maintain momentum could lead to a retracement to 190.92. The Stochastic indicator is in overbought territory, signaling limited upside potential. A break below 190.92 may confirm a bearish trend, targeting 183.79 as the next support.

Resistance levels: Support levels: Recommended:
199.00
198.00
196.00

 194.00
193.00
190.00

Bullish above 196.00

 

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