Technical Analysis

Daily Technical analysis for August 26, 2020

Daily Technical analysis for August 26, 2020

EURUSD

The EURUSD is moving in a volatile direction on the hourly interval. We should wait for the breakout or breach of the triangle pattern to buy or sell.

Resistance levels: 1.2000 - 1.2100 - 1.2200

Support levels: 1.1700 - 1.1600 - 1.1500  

Trend: Volatile

 

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 - 1.2900 - 1.2800

Direction: Bullish

 

USDJPY

The USDJPY pair is showing volatility on the hourly interval. We should await the breach of the triangle pattern before buying or selling.

Resistance 107.00- 108.00- 109.00

Support: 103.00 - 101.00 - 100.00

Trend: Volatile

 

Gold

Gold is moving in a downward direction on the hourly interval. Gold breached the 1930 price level, and we expect more decline in the coming hours.

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. The price has breached the classic descending channel and is now facing resistance at the price level of 46.00, so we are waiting for its breakout to buy.

Resistance 50.00 - 55.00 - 60.00

Support: 40.00 - 35.00 - 25.00

Trend: Bullish



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