Technical Analysis

Daily Technical analysis for August 24, 2020

Daily Technical analysis for August 24, 2020

EURUSD

The EURUSD is moving in a downward direction on the hourly interval, where the price is on its way to target the 1.1720 price level.

Resistance levels: 1.2000 - 1.2100 - 1.2200

Support levels: 1.1800 - 1.1700 - 1.1600  

Trend: Bearish

 

GBPUSD

The GBPUSD pair is moving in an upward direction on the hourly interval, where the price targets 1.3300 while the best support level is at 1.3000.

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. We are waiting for the breach of 105.30 to sell again 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. Gold fell strongly until it reached the 1930 price level, and we are waiting to break it to sell to the 1900 price level.

Resistance: 2100 - 2200 - 2300

Support 1850 - 1750 - 1700

Trend: Bearish

 

Oil

Oil (Brent crude) is moving in a bearish direction on the one-hour timeframe. The price is moving in a classic descending channel, and we expect more decline at the price level 43.00.

Resistance 50.00 - 55.00 - 60.00

Support: 35.00 - 30.00 - 25.00

Trend: Bearish



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