Technical Analysis

Daily Technical analysis for February 24, 2021

Daily Technical analysis for February 24, 2021

EURUSD

The euro is moving against the US dollar in an upward direction on the hourly interval. We should await the breach of the 1.2180 level to buy again.

Resistance levels: 1.2200 - 1.2300 - 1.2400

Support levels: 1.1900 - 1.1800 - 1.1700 

Trend: Bullish

 

GBPUSD

The GBPUSD pair is moving in an upward direction on the hourly interval. It is possible that the pair will fall to the level of 1.3800 before rising again.

Resistance: 1.4000 - 1.4100 - 1.4200

Support: 1.3600 - 1.3700 - 1.3800

Direction: Bullish

 

USDJPY

The USDJPY pair is moving in an upward direction on the hourly interval, as the pair has reached the lower boundary of the ascending classical channel, and it is likely to rise in the coming hours.

Resistance 106.50 - 107.00 - 108.00

Support: 103.50 - 102.00 - 101.00

Trend: Bullish

 

Gold

Gold is moving in a volatile direction on the hourly interval. The price is close to the upper bound of the descending classical channel, and it is likely to fall within the next hours.

Resistance: 1860 - 1900 - 2000

Support: 1750 - 1700 - 1600

Trend: Bearish

 

Oil

Oil (Brent crude) is moving in a downward direction on the hourly interval. The price touches $65.00 a barrel, which is a resistance level, and we are waiting for stability above it to buy.

Resistance: 65.00 - 66.00 - 67.00

Support: 56.00 - 57.00 - 58.00

Trend: Bullish



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