Technical Analysis

Daily Technical analysis for October 26, 2020

Daily Technical analysis for October 26, 2020

EURUSD

The EURUSD is moving in an upward direction on the hourly interval. The price is close to the resistance level at 1.1880, and it is likely to drop in the coming hours.

Resistance levels: 1.1830 - 1.1900 - 1.2000

Support levels: 1.1700 - 1.1750 - 1.1800  

Trend: Bullish

 

GBPUSD

The GBPUSD pair is moving in an upward direction on the hourly interval. The price is close to the lower bound of the ascending classical channel, and it is likely to rise to 1.3150.

Resistance 1.3200 - 1.3300 -1.3400

Support: 1.3000 - 1.3100 - 1.3200

Direction: Bullish

 

USDJPY

The USDJPY pair is moving downwardly on the hourly interval. The price is testing the resistance level of 105.00, and it is likely to drop in the coming hours.

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 uptrend line, so we expect a drop to the level of 1875.

Resistance: 2000 - 2100 - 2200

Support 1850 - 1750 - 1700

Trend: Bearish

 

Oil

Oil (Brent crude) is moving downwardly on the one-hour timeframe. The price broke the rectangle pattern, and is likely to head towards 39.00.

Resistance 43.00 - 45.00 - 47.00

Support: 39.00 - 37.00 - 35.00

Trend: Bearish



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