Technical Analysis

Daily Technical analysis for April 16, 2020

Daily Technical analysis for April 16, 2020

EURUSD

The EURUSD is moving in a downside direction on the hourly interval, where the price is likely to target 1.0750.

Resistance levels: 1.1100 - 1.1300 - 1.1500

Support levels: 1.0700 - 1.0600 - 1.0500  

Trend: Bullish

 

GBPUSD

The GBPUSD pair is moving lower on the one-hour timeframe, and it is likely that it will fall to the level of 1.2100, provided that it breaches the level of 1.2430 and settles below it. 

Resistance 1.2250 - 1.2500 - 1.2700

Support: 1.1500 - 1.1400 - 1.1200

Direction: Bearish

 

USDJPY

The USDJPY pair is showing some volatility on the hourly interval, where the price now touches the bottom border of the rectangle pattern and is likely to rise to the 109.50 price level.

Resistance 112.00 - 115.00 - 117.00

Support: 105.30 - 101.00 - 100.00

Trend: Volatile

 

Gold

Gold is in moving to the upside upward over the hourly interval, after breaching resistance at 1700. Therefore, it is possible to resume its rise targeting 1750.

Resistance: 1750 - 1800- 1850

Support 1560 - 1500 - 1400

Trend: Bullish

 

Oil

Oil is moving in a bearish direction on the hourly interval. The price is now touching a strong support, and it is likely to rise from it to the price level of $22.00 per barrel.

Resistance 35.00 - 44.00 - 50.00

Support: 20.00 - 17.00 - 15.00

Trend: Bearish



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