Technical Analysis

Daily Technical analysis for December 27, 2019

Daily Technical analysis for December 27

EURUSD

The EURUSD pair rose and is close to breaching the descending classical channel pattern. If it settles higher from it, it will likely target 1.1175 price level.

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. In the event of a break-up, it might target the level of 1.3500 or the broken trend line to retest it.

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. Now, the price is facing resistance level at 1515 and is likely to drop as a downside correction to the level of 1495.

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 witness 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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