Technical Analysis

Daily Technical analysis for February 13, 2020

Daily Technical analysis for February 13

EURUSD

The EURUSD is moving in a downtrend in a classic bearish channel on the hourly interval inside a classic bearish channel. The price may currently find support and it is possible to rise to the price level of 1.0990 and then retreats again.

Resistance levels: 1.0990 - 1.1086 - 1.1175

Support levels: 1.0900 - 1.0850 -1.0800

Trend: Bearish

 

GBPUSD

The GBPUSD is moving to the downside on the hourly timeframe after breaking the triangle pattern. We expect more decline in the coming hours. 

Resistance 1.3500 -1.3600 - 1.3650

Support: 1.2270 - 1.2250 - 1.2200

Direction: Bearish

 

USDJPY

The USDJPY pair is still moving in a bullish direction on the hourly interval. If it remained above the support level of 109.65, it is likely to rise in the coming hours.

Resistance 110.00 - 110.50 - 111.00

Support: 108.40 - 107.50 - 107.00

Trend: Bullish

 

Gold

Gold is moving in a bullish direction on the one-hour timeframe, as shown in the following image. Gold is targeting 1580 price level as a first target.

Resistance: 1600 - 1625 - 1650

Support 1513 - 1500 - 1480

Trend: Bullish

 

Oil

Oil is moving in an upside direction over the one-hour timeframe after breaching the classic descending channel. The price is expected to rise until the resistance level of 54.75 during the coming hours.

Resistance 54.75 - 62.50 - 65.00

Support: 51.45 - 50.00 – 45.00

Trend: Bullish



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