Technical Analysis

Daily Technical analysis for February 3, 2021

Daily Technical analysis for February 3, 2021

EURUSD

The Euro is moving against the US dollar in a downward direction on the hourly interval. The pair broke the rectangle pattern, and it is possible to target the 1.1900 price level.

Resistance levels: 1.2215 - 1.2300 - 1.2400

Support levels: 1.1200 - 1.1900 - 1.1800 

Trend: Bearish

 

GBPUSD

The GBPUSD pair is moving in a downward direction on the hourly interval, where the pair targets the 1.3600 price level.

Resistance: 1.3700 - 1.3800 - 1.3900

Support: 1.3450 - 1.3400 - 1.3300

Direction: Bearish

 

USDJPY

The USDJPY pair is moving in an upward direction on the hourly interval. The price is facing the resistance level 105.00, and it is likely that it will fall to 104.30.

Resistance 105.00 - 106.00 - 107.00

Support: 103.50 - 102.00 - 101.00

Trend: Bullish

 

Gold

Gold is moving in a volatile direction on the hourly interval. The price is below the upper boundary of the rectangle pattern, and we are waiting for it to break above to buy.

Resistance: 1860-1900- 2000

Support: 1800- 1750- 1700

Trend: Volatile

 

Oil

Oil (Brent crude) is moving in a volatile direction on the hourly interval. The price has breached the resistance level and is likely to target 59.00.

Resistance: 58.00 - 59.00 - 60.00

Support: 56.00 - 55.00 - 54.00

Trend: Bullish



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