Technical Analysis

Daily Technical analysis for August 20, 2020

Daily Technical analysis for August 20, 2020

EURUSD

The EURUSD is moving in a downward direction on the hourly interval. The price fell strongly yesterday until it reached the level of 1.1830, and it is likely that it will target the 1.730 price 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 rebounded from the support level of 105.30 and currently faces resistance at 106.50. We are waiting for an appropriate price behavior to sell.

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 fell strongly until it reached the 1930 price level, so we should wait to its breakout to sell to 1900 price level.

Resistance: 2100 - 2200 - 2300

Support 1850 - 1750 - 1700

Trend: Bearish

 

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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