Technical Analysis

Daily Technical analysis for July 31, 2020

Daily Technical analysis for July 31, 2020

EURUSD

The EURUSD is moving to the upside on the hourly interval. The price could not rise higher from the resistance of 1.1900 and is likely to fall.

Resistance levels: 1.1900 - 1.1950 - 1.2000

Support levels: 1.1600 - 1.1500 - 1.1400  

Trend: Bullish

 

GBPUSD

The GBPUSD pair is moving in an upward direction, the pair faces a resistance level at 1.3000, and will likely continue the rise to the level of 1.3250.

Resistance 1.3200 - 1.3250 - 1.3300

Support: 1.2700 - 1.2800 - 1.2850

Direction: Bullish

 

USDJPY

The USDJPY pair is moving in a downward direction on the hourly interval, where the price is facing the support line at 105.00 and it is likely that it will target the price level 103.00.

Resistance 106.00 - 107.00 - 110.00

Support: 103.00 - 101.00 - 100.00

Trend: Bearish

 

Gold

Gold is moving in an upward direction on the hourly interval. The price is facing a strong resistance level at 1950 and it may drop to 1850 price level before going up again.

Resistance: 1950 -2000 - 2100

Support 1650 - 1600 - 1550

Trend: Bullish

 

Oil

Oil (Brent crude) is moving in a bearish direction on the one-hour timeframe, where the price has breached the upside trend line and is likely to drop in the coming hours.

Resistance 50.00 - 55.00 - 60.00

Support: 25.00 - 30.00 - 35.00

Trend: Bearish



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