Technical Analysis

Daily Technical analysis for December 21, 2020

Daily Technical analysis for December 21, 2020

EURUSD

The EURUSD is moving in an upward direction on the hourly interval. The pair rose to its current bullish targets in the wave of profit taking, testing the support level for the ascending channel, and we expect it to rise again unless it stabilizes below 1.2100.

Resistance levels: 1.2200 - 1.2300 - 1.2500

Support levels: 1.2100 - 1.2000 - 1.1850 

Trend: Bullish

 

GBPUSD

The GBPUSD pair is moving in an upward direction on the hourly interval. The pair succeeded in ascending to its first target at 1.3500, and we expect that in the case of maintaining trading above 1.3300, it will rise again to the level of 1.3500 and that the next target will be 1.3600.

Resistance 1.3500 - 1.3600 - 1.3700

Support: 1.3400 - 1.3200 - 1.3000

Direction: Bullish

 

USDJPY

The USDJPY pair is moving upwardly on the hourly interval, as the pair traded near the support area for the sideways trend formed between 103.00 and 103.50, and we expect that in the event of continued trading above this area, it will target resistance at 104.20, then 104.80.

Resistance 103.90 - 104.20 -104.70

Support: 103.50 - 103.00 - 102.00

Trend: Sideways

 

Gold

Gold is moving in a sideway direction on the hourly interval. Gold has succeeded in breaching the main resistance level, which has always succeeded in stopping its rise in the short term at the level of 1880. We expect that in the event of continued trading above this level, it will target 1920 then 1950.

Resistance: 1880- 1900- 1950

Support 1880- 1840- 1820

Trend: Bullish

 

Oil

Oil (Brent crude) is moving in an upward direction on the one-hour timeframe. Oil rose in recent trading, achieving its first target at $52.00, and then retreating from it with the week’s openings. Currently, it is trading above the support of the ascending channel, and we expect that if trading is maintained above $47.00 level, it rises again above $50.

Resistance 50.00 - 52.00 - 54.00

Support: 48.00 - 47.00 - 45.00

Trend: Bullish



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