Technical Analysis

Daily Technical analysis for January 22, 2021

Daily Technical analysis for January 22, 2021

EURUSD

The Euro is moving against the US dollar in a downward direction on the hourly interval. We await the breach of the 1.2140 price level to buy.

Resistance levels: 1.2150 - 1.2200 - 1.2300

Support levels: 1.2000 - 1.1900 - 1.1800 

Trend: Bullish

 

GBPUSD

The GBPUSD pair is moving in an upward direction on the hourly interval. we await the breach of 1.3700 to buy.

Resistance: 1.3700 - 1.3800 - 1.3900

Support: 1.3450 - 1.3400 - 1.3300

Direction: Bullish

 

USDJPY

The USDJPY pair is moving in a downward direction on the hourly interval. The price has broken the lower boundary of the rectangle pattern, and we expect more drop to the level of 103.00.

Resistance 104.50 - 105.00 - 106.00

Support: 103.50 - 102.00 - 101.00

Trend: Bearish

 

Gold

Gold is moving in a sideway direction on the hourly interval. The price breached the 1860 level, and it is likely to continue the climb to the 1900 level.

Resistance: 1860-1900- 2000

Support: 1800- 1750- 1700

Trend: Sideways

 

Oil

Oil (Brent crude) is moving in an upward direction on the hourly interval. We await the price correction to the price level of $53.00 a barrel to buy or a breach to resistance level of $57.00.

Resistance: 57.50 - 58.00 - 59.00

Support: 53.00 - 52.00 - 51.00

Trend: Bullish



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