Technical Analysis

Daily Technical analysis for August 6, 2020

Daily Technical analysis for August 6, 2020

EURUSD

The EURUSD is moving to the upside on the hourly interval. The price is now facing resistance area, so we should wait and see how the price will interact with it.

Resistance levels: 1.1900 - 1.1950 - 1.2000

Support levels: 1.1600 - 1.1500 - 1.1400  

Trend: Bullish

 

GBPUSD

The GBPUSD pair is moving in an upward direction, the pair has breached the resistance level at 1.3000, and will likely continue the rise to the level of 1.3250.

Resistance 1.3200 - 1.3250 - 1.3300

Support: 1.2700 - 1.2800 - 1.2850

Direction: Bullish

 

USDJPY

The USDJPY pair is moving in a downward direction on the hourly interval, where the price has fallen from the 106.60 resistance area and we expect more decline.

Resistance 106.00 - 107.00 - 110.00

Support: 103.00 - 101.00 - 100.00

Trend: Bearish

 

Gold

Gold is moving in an upward direction on the hourly interval. The price is facing a strong resistance level at 2100 and may fall to 1850 price level before rising again.

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 facing the level of 45, and we should wait for its breakout to buy.

Resistance 50.00 - 55.00 - 60.00

Support: 25.00 - 30.00 - 35.00

Trend: Bullish



Share Article