Technical Analysis

Daily Technical analysis for January 15, 2020

Daily Technical analysis for January 15

EURUSD

The EURUSD is still moving in an upside direction on the hourly interval and up from the head and shoulders pattern. In the case of maintaining the neckline, the price would target 1.1175 and in the event that the support level of 1.1086 is broken, it will target the level of 1.0990.

Resistance levels: 1.1250 - 1.1300 - 1.1350

Support levels: 1.0990 - 1.0940 - 1.0850

Trend: Volatile

 

GBPUSD

The GBPUSD is moving in a bearish direction on the hourly timeframe, forming a wedge pattern, as shown in the following image, and it is likely that it will target the level of 1.2900.

Resistance 1.3500 -1.3600 - 1.3650

Support: 1.2270 - 1.2250 - 1.2200

Direction: Bearish

 

USDJPY

The USDJPY is moving in an upside direction over the one-hour timeframe and the price is close to the upper limit of the channel pattern. We should wait for the correction until the price level of 108.40 to buy again.

Resistance 109.70 - 110.00 - 110.50

Support: 108.40 - 107.50 - 107.00

Trend: Bullish

 

Gold

Gold is moving in a bullish direction over the hourly timeframe. It is preferable to wait until the price reaches the level of 1513 to buy again.

Resistance: 1600 - 1625 - 1650

Support 1513- 1500 - 1480

Trend: Bullish


Oil

Oil is still moving in an upside direction over the one-hour timeframe, as can be seen from the following image. We expect more bullishness during the coming hours until the price level of 62.50.

Resistance 62.50 - 65.00 - 68.00

Support: 58.81 - 53.75 - 51.45

Trend: Bullish



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