Technical Analysis

Daily Technical analysis for December 26, 2019

Daily Technical analysis for December 26

EURUSD

The EURUSD is still moving in a downward direction on the one-hour timeframe inside the classic downside channel. We expect further drop for the pair in the coming hours.

Resistance levels: 1.1175 - 1.1210 - 1.1260

Support levels: 1.1110 - 1.0990 - 1.0940

Direction: Bearish

 

GBPUSD

The GBPUSD broke the support level of 1.3020, which turned into a resistance level. We are waiting for it to be tested again for selling until 1.2900 levels.

Resistance 1.3500 -1.3600 - 1.3650

Support: 1.2960 - 1.2900 - 1.2850

Direction: Bearish

 

USDJPY

The USDJPY is showing volatility over the one-hour timeframe and is likely to continue falling until the 108.90 price level, where it may find the first support levels.

Resistance: 109.70 - 110.00 - 110.50

Support: 108.90 - 108.30 - 107.90

Trend: Volatile

 

Gold

Gold rose strongly and breached the resistance level of 1495, which turned into a support level. We are waiting for gold to correct to the downside to at least to 1485 price level to buy again, as the RSI indicates overbought and possibly corrective decline.

Resistance: 1515 - 1540 - 1560

Support: 1445 - 1430 - 1420

Trend: Bullish

 

Oil

Oil is moving in an upside direction on the hourly timeframe and the price is close to the upper border of the bullish classical channel pattern. It is possible to see a downside correction until the price level of 58.80.

Resistance 62.50 - 65.00 - 68.00

Support: 58.81 - 53.75 - 51.45

Trend: Bullish



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