Technical Analysis

Daily Technical analysis for October 30, 2020

Daily Technical analysis for October 30, 2020

EURUSD

The EURUSD is moving in a downward direction on the hourly interval. The euro broke the support level of 1.1690 and turned to a resistance level, so we expect more descending from these levels.

Resistance levels: 1.1830 - 1.1900 - 1.2000

Support levels: 1.1650 - 1.1600 - 1.1500 

Trend: Bearish

 

GBPUSD

The GBPUSD pair is moving in an upward direction on the hourly interval. The pair reached the level of 1.2900 yesterday, so we should wait for its breakout to sell again.

Resistance 1.3000 - 1.3100 -1.3200

Support: 1.2900 - 1.2800 - 1.2700

Direction: Bearish

 

USDJPY

The USDJPY pair is moving downwardly on the hourly interval. The price fell strongly and is likely to rise, as a correction, to 105.00 because the price is close to the lower bound of the descending channel.

Resistance 105.00 - 106.00 - 107.00

Support: 104.00 - 103.00 - 102.00

Trend: Bearish

 

Gold

Gold is moving in a downward direction on the hourly interval. The price broke the support level 1885, so we expect a drop to the level of 1800.

Resistance: 1950 - 2000 - 2100

Support 1850 - 1750 - 1700

Trend: Bearish

 

Oil

Oil (Brent crude) is moving downwardly on the one-hour timeframe. The price touches the support level of 39.00, so we are waiting for a break of the level to sell again until 37.00.

Resistance 43.00 - 45.00 - 47.00

Support: 35.00 - 34.00 - 33.00

Trend: Bearish



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