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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

20 November 2024

powered by Land Prime

  • EURUSD

Update: The EUR/USD pair finds itself at a crossroads, currently sitting at 1.0574. The support level at 1.0522 has held firm despite the recent sell-off. Bulls will need to reclaim 1.0700 for any chance of a sustained recovery, with 1.0938 looming as a key hurdle ahead. The RSI is crawling out of oversold territory, suggesting that some short-term relief might be in play. However, if the 1.0522 support cracks, deeper losses could follow.

Resistance levels: Support levels: Recommended:
1.1260
1.1200
1.1000
1.0500
1.0450
1.0400

Bullish above 1.0500

  • GBPUSD

Update: The recent bounce in GBP/USD has brought the pair to 1.2693, a slight recovery from its dip to 1.2583. However, the journey upward will not be easy, with the 200-day moving average at 1.2843 acting as a formidable barrier. While the bulls are attempting to regain control, the overall bearish tone remains intact unless a decisive break above 1.2843 occurs. Traders should keep a close eye on the 1.2583 support for signs of renewed downside risk.

Resistance levels: Support levels: Recommended:
▪ 1.3200
1.3100
▪ 1.3035
1.2600
1.2550
1.2500
Bearish below 1.2850
  • GOLD

Update: Gold continues to respect its upward trend, currently trading at 2621.77. The lower boundary of the ascending channel near 2527.57 has provided reliable support, keeping the bullish outlook intact. Momentum is slowing down, though, as the Stochastic indicator suggests overbought conditions. If the metal breaks above 2689.90, we could see a climb toward 2785.60, but a rejection here may lead to a pullback toward the channel’s base.

Resistance levels: Support levels: Recommended:
3000
2900
2800
2527
2500
2400
Bullish above 2527

  • AUDUSD

Update: After weeks of consolidating, AUD/USD is positioned at 0.6518, showing signs of strength as it rebounds from the support area at 0.6363. This zone has been tested multiple times, reinforcing its reliability. A close above 0.6550 could signal the beginning of a larger upward movement, targeting 0.6637. However, any failure to sustain above 0.6440 might lead the pair back into its broader range. Watch the MACD closely, as it hints at a potential shift in momentum.

Resistance levels: Support levels: Recommended:

▪ 0.6700
0.6650
0.6640

▪ 0.6440
0.6400
▪ 0.6300

Bullish above 0.6440

  • GBPJPY

 

Update: GBP/JPY remains resilient within its upward channel, now trading at 197.05. The pair’s near-term trajectory hinges on whether buyers can push through 198.41, a level that has capped gains recently. If this resistance gives way, the psychological level of 200.00 could come into focus. On the downside, 195.35 remains a key zone to monitor, as a breakdown here might disrupt the bullish structure. The Awesome Oscillator is flat, signaling that the pair could range in the near term.

Resistance levels: Support levels: Recommended:
201.00
200.00
199.73

 196.00
195.26
193.00

Bearish below 200.00

 

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