Technical Analysis

Daily Technical analysis for April 1, 2020

Daily Technical analysis for April 1, 2020

EURUSD

The EURUSD is moving in an upside direction on the hourly interval. The price is likely to rise from these levels, but it is preferable to wait for the breach of 1.1000 before buying.

Resistance levels: 1.1100 - 1.1300 - 1.1500

Support levels: 1.0700 - 1.0600 - 1.0500  

Trend: Bullish

 

GBPUSD

The GBPUSD pair is moving upwardly on the one-hour timeframe, but the price is facing a resistance at 1.2400 and it is possible that it will fall from this level as a downside correction. 

Resistance 1.2250 - 1.2500 - 1.2700

Support: 1.1500 - 1.1400 - 1.1200

Direction: Bullish

 

USDJPY

The USDJPY pair is moving in a bearish direction on the hourly interval. The price has breached the support level of 110.00 and it is likely to target 105.00.

Resistance 112.00 - 115.00 - 117.00

Support: 105.30 - 101.00 - 100.00

Trend: Bearish

 

Gold

Gold is in moving to the upside upward over the hourly interval, but the price may fall to the 1560 levels to test the support line before going up again.

Resistance: 1650 - 1700 - 1750

Support 1560 - 1500 - 1400

Trend: Bullish

 

Oil

Oil is moving in a bearish direction on the hourly interval after breaking the triangle pattern. we should wait for a breakout of the 20 level for selling until the price level of 18.00 or buying after the breach of the downside trend line and stability above it, targeting the level of 25.00.

Resistance 35.00 - 44.00 - 50.00

Support: 20.00 - 17.00 - 15.00

Trend: Bearish



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