Technical Analysis

Daily Technical analysis for February 27, 2020

Daily Technical analysis for February 27

EURUSD

The EURUSD is moving in a bearish direction on the hourly interval, yet the pair is expected to drop from the current levels until the price level of 1.0650.

Resistance levels: 1.1050 - 1.1000 - 1.0900

Support levels: 1.0800 - 1.0750 - 1.0700

Trend: Bearish

 

GBPUSD

The GBPUSD pair is moving in a bearish direction on the one-hour timeframe, forming a classic descending channel. It is likely that the pair will rise to the level of 1.3100 as it bounces from the lower bound of the descending classic channel. 

Resistance 1.3000 -1.3200 - 1.3350

Support: 1.2270 - 1.2250 - 1.2200

Direction: Bearish

 

USDJPY

The USDJPY pair is moving in an upside direction on the hourly interval. The price bounced from the resistance level of 112.00, while it may find support at the price level of 110.00.

Resistance 112.00 - 112.50 - 113.00

Support: 110.00 - 109.50 - 108.40

Trend: Bullish

 

Gold

Gold is moving in a bullish direction on the one-hour timeframe, as shown in the following image. Gold is now having a strong support at 1625.

Resistance: 1675 - 1700 - 1750

Support 1650 - 1600 - 1550

Trend: Bullish

 

Oil

Oil is moving in a bearish direction on the hourly interval, as shown in the following image, after it terraced the target of 49.00 that we mentioned yesterday. We expect more decline, but the best area to sell from is 50.00.  

Resistance 50.00- 52.50-55.50

Support: 45.00 - 42.00 - 40.00

Trend: Bearish



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