Technical Analysis

Daily Technical analysis for December 17, 2019

Daily Technical analysis for December 17


Yesterday the EUR/USD pair rose, as we expected, where the pair is currently moving in an upside direction on the one-hour timeframe and is close to the lower boundary of the bullish classic channel.

Resistance levels: 1.1175 - 1.1210 - 1.1260

Support levels: 1.1110 - 1.0990 - 1.0940

Trend: Bullish



The GBPUSD is still moving in an upside direction on the hourly interval, where the best buying areas area located near the upside trend line or at the 1.3200 price level, which represents a good support level.

Resistance 1.3500 -1.3600 - 1.3650

Support: 1.3250 - 1.3120 - 1.2960

Trend: Bullish



The USDJPY is showing some volatility on the hourly timeframe, and the price is close to a strong resistance level located at 109.80. It is possible to fall in the coming hours.

Resistance: 109.70 - 110.00 - 110.50

Support: 108.90 - 108.30 - 107.90

Trend: Volatile



Gold is moving in an upside direction on the hourly interval, as shown in the following image. The price is meanwhile facing resistance at 1478, and we are waiting for its breach and stability above it to buy.

Resistance: 1495 - 1515 - 1540

Support: 1445 - 1430 - 1420

Trend: Bullish



As it is clear from the following image that oil is moving in a bullish direction on the hourly interval and near the upper border line of the channel. We should wait for the support level of 58.81 to be breached for selling until the bottom border of the channel.

Resistance 62.50 - 65.00 - 68.00

Support: 58.81 - 53.75 - 51.45

Trend: Bullish


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