Technical Analysis

Daily Technical analysis for August 19, 2020

Daily Technical analysis for August 19, 2020

EURUSD

The EURUSD is moving in an upward direction on the hourly interval. The euro rose strongly against the US dollar, and it is likely to target the 1.2000 level.

Resistance levels: 1.2000 - 1.2100 - 1.2200

Support levels: 1.1800 - 1.1700 - 1.1600  

Trend: Bullish

 

GBPUSD

The GBPUSD pair is moving in an upward direction on the hourly interval, where the price targets 1.3300.

Resistance 1.3300 - 1.3400 - 1.3500

Support: 1.3000 - 1.3050 - 1.3100

Direction: Bullish

 

USDJPY

The USDJPY pair is moving in a downward direction on the hourly interval, where the price has reached a support level at 105.20. We should wait for it to be breached to sell until the price level of 103.00.

Resistance 107.00- 108.00- 109.00

Support: 103.00 - 101.00 - 100.00

Trend: Bearish

 

Gold

Gold is moving in a downward direction on the hourly interval. The price is touching the 2015 resistance level, and it is likely to fall from it.

Resistance: 2100 - 2200 - 2300

Support 1850 - 1750 - 1700

Trend: Bullish

 

Oil

Oil (Brent crude) is moving in a bullish direction on the one-hour timeframe, where the price is moving in a wedge pattern, and we are waiting to break it to sell or the breach the $45.00 level to buy.

Resistance 50.00 - 55.00 - 60.00

Support: 25.00 - 30.00 - 35.00

Trend: Bullish



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