Technical Analysis

Daily Technical analysis for December 9, 2019

Daily Technical analysis for December 9


The EURUSD pair fell last Friday as a result of the US labor market data until it reached the breached trend line on the one-hour timeframe. We expect the pair to rise from these levels until the resistance level of 1.0950.

Resistance levels: 1.1055- 1.1095- 1.1175  

Support levels are 1.0990- 1.0880 - 1.0780

Trend: bullish



The GBPUSD is moving upward on the hourly interval, we are waiting for the support line retest at 1.29650 to buy again.

Resistance: 1.3150- 1.3200 -1.3250  

Support: 1.2760 - 1.2660 - 1.2550

Trend: bullish



The USDJPY is moving in a downtrend on the hourly timeframe, as the price has fallen after retesting the broken trend line. We expect it to fall to the level of 108.30 during the coming hours.

Resistance: 109.00 - 109.50 - 110.00

Support: 108.30 - 107.90 - 107.30

Trend: bullish



On the hourly chart, gold is moving in an upside direction, where the price is now close to the lower boundary of the descending classical channel. We are waiting for the formation of a suitable price behavior to buy and then we can target 1478 level.

Resistance: 1495 - 1515 - 1540

Support: 1445 - 1430 - 1420

Trend: bullish