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Penyelidikan & Maklumat Pasaran

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

16 October 2024

powered by Land Prime

  • EURUSD

Update: EURUSD is currently trading around 1.0893, in proximity to a notable support area. The primary resistance level to consider is at 1.0993, and a break above this threshold could facilitate a rise towards 1.1120. Conversely, if bullish momentum does not materialize, the price may revisit support at 1.0776. The RSI indicator is nearing the oversold region at approximately 30, hinting at the possibility of a bounce. However, a breach below 1.0776 may lead to further declines, potentially targeting 1.0594. Key levels of interest: 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 currently positioned around 1.3018, trading just below the key resistance level of 1.3057. A decisive move above this resistance could pave the way for gains towards 1.3258. Conversely, if the pair struggles to break higher, it may fall back towards the support at 1.2989. The 200-day moving average is providing an additional layer of support, and a move below 1.2659 could signal a deeper decline towards 1.2320. Key levels of interest: 1.2900 – 1.2800.

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

Bullish above 1.3000

  • GOLD

Update: The price of gold is currently positioned around 2681, maintaining its trajectory within an ascending channel. The critical threshold to observe is the resistance level at 2710. A sustained break above this point could signify a continuation of the current bullish trend, potentially leading to a target of 2730. Conversely, should the price fail to surpass this resistance, a pullback towards the support at 2540 is likely. The OsMA indicator reflects positive momentum, suggesting further upside potential. However, a breach below 2540 may indicate a move downwards toward 2527. Key levels of interest: 2670 – 2550.

Resistance levels: Support levels: Recommended:
2890
2800
2700
2588
2550
2500
Bullish above 2527.

  • AUDUSD

Update: AUDUSD is trading near 0.6587, closely aligned with a significant support zone. The primary resistance level to monitor is at 0.6688; an advance beyond this point could result in a further rise towards 0.6824. Should the price fail to gain upward momentum, it may test the support at 0.6522. The OsMA indicator points to prevailing bearish momentum, suggesting a potential continuation of the downward trend unless a reversal occurs. A decline below 0.6522 could prompt a move towards 0.6441. Key levels of interest: 0.6620 – 0.6500.

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 currently trading near 194.22, hovering close to a significant resistance level at 195.95. Should the price manage to break above this resistance, it could trigger a rally towards 200.40. On the other hand, failure to surpass this level might prompt a retracement towards the support area around 183.79. The Stochastic indicator reveals signs of bearish divergence, which could suggest a potential corrective phase unless upward momentum is reestablished. Key levels of interest: 192.50 – 190.00.

Resistance levels: Support levels: Recommended:
199.00
198.00
196.00

 194.00
193.00
190.00

Bearish below 196.00

 

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