Technical Analysis

Daily Technical analysis for December 30, 2019

Daily Technical analysis for December 30

EURUSD

The EURUSD pair is moving in an upside direction over the one-hour timeframe, as shown in the following image, where the price is now close to the upper limit of the channel. It is preferred to wait until the price corrects to the downside to 1.1110 before buying again.

Resistance levels: 1.1250 - 1.1300 - 1.1350

Support levels: 1.1175- 1.1110- 1.0990  

Trend: Bullish

 

GBPUSD

The GBPUSD is still moving in a downtrend on the hourly interval, as the price has broken the uptrend line and is likely to fall in the coming hours after retesting the trend line.

Resistance 1.3500 -1.3600 - 1.3650

Support: 1.2270 - 1.2550 - 1.2200

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 level.

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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