Technical Analysis

Daily Technical Analysis for November 5

Daily Technical Analysis for November 5

EURUSD

Today, the EURUSD faces resistance at 1.1095, so we expect a downside correction to retest the breached downtrend line.

Resistance Levels: 1.1055- 1.1095- 1.1175

Support levels: 1.0940 - 1.0880 - 1.0780

Trend: Bullish

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GBPUSD

The GBPUSD is moving upwards on the hourly timeframe, waiting for a retest of the support line at 1.29650 to buy again.

Resistance: 1.3150- 1.3200- 1.3250

Support: 1.2760 - 1.2660 - 1.2550

Trend: Bullish

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USDJPY

The dollar rose against the yen, as we expected yesterday, as it is still moving upwards on the hourly charts, but be careful as it faces a strong resistance level at 108.90. So, we should wait for a breakout before buying.

Resistance: 109.00 - 109.50 - 110.00

Support: 108.30 - 107.90 - 107.30

Trend: Bullish

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Gold

On the hourly charts, gold is moving in an uptrend and the price is now close to the upper border of the ascending channel and the resistance line near 1478. So, we expect it to fall to the level of 1460 again from which we can buy.

Resistance: 1495 - 1515 - 1540

Support: 1445 - 1430 - 1420

Trend: Bullish