Technical Analysis

Daily Technical analysis for November 24, 2020

Daily Technical analysis for November 24, 2020

EURUSD

The EURUSD is moving in a volatile direction on the hourly interval. We are waiting for a break or breach of the rectangle pattern in which the movement is moving to buy or sell.

Resistance levels: 1900 - 1.2000 - 1.2100

Support levels: 1.1700 - 1.1600 - 1.1500 

Trend: Volatile

 

GBPUSD

The GBPUSD pair is moving in an upward direction on the hourly interval. If the price stabilizes above the level of 1.3310, it will target the 1.3400 level.

Resistance 1.3400 - 1.3500 - 1.3600

Support: 1.3100 - 1.3000 - 1.2900

Direction: Bullish

 

USDJPY

The USDJPY pair is moving upwardly on the hourly interval. The price has breached the classical descending channel, and it is likely that it targets 105.00 in the coming hours.

Resistance 106.00 - 107.00 -108.00

Support: 103.00 - 102.00 - 101.00

Trend: Bullish

 

Gold

Gold is moving in a bearish direction on the hourly interval. The price broke the lower boundary of the rectangle pattern, so we expect more bearishness in the coming hours.

Resistance: 1950 - 2000 - 2100

Support 1800- 1750- 1700

Trend: Bearish

 

Oil

Oil (Brent crude) is moving in an upward direction on the one-hour timeframe. The price breached the level of 43.00 and settled above it, so we expect a rise to the level of 45.00.

Resistance 45.00 - 47.00 - 48.00

Support: 40.00 - 38.00 - 37.00

Trend: Bullish



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