Technical Analysis

Daily Technical analysis for January 27, 2020

Daily Technical analysis for January 27

EURUSD

The EURUSD is still moving in a downside direction on the hourly interval, as shown in the following image. It is likely that it will find support at the price level of 1.0990.

Resistance levels: 1.1250 - 1.1300 - 1.1350

Support levels: 1.0990 - 1.0940 - 1.0850

Trend: Bearish

 

GBPUSD

The GBPUSD is moving in an upside direction on the hourly timeframe, after breaking through the triangle pattern, where today it is retesting it and is likely to target the 1.3500 price level in the coming days..

Resistance 1.3500 -1.3600 - 1.3650

Support: 1.2270 - 1.2250 - 1.2200

Direction: Bullish

 

USDJPY

As we expected last week, the USDJPY fell until the 109.03 price level, and it is likely that it will continue its decline until 108.40 to find its first support.

Resistance 109.70 - 110.00 - 110.50

Support: 108.40 - 107.50 - 107.00

Trend: Bullish

 

Gold

Gold has reached the 1582 target, we mentioned last week, and now it finds a strong resistance level and it is likely that it will drop until 1560, where it will be an appropriate opportunity to buy.

Resistance: 1600 - 1625 - 1650

Support 1513 - 1500 - 1480

Trend: Bullish

 

Oil

Oil reached the 53.00 target that we mentioned last week, and it is expected to continue falling until 51.10 to find its first levels of support.

Resistance 62.50 - 65.00 - 68.00

Support: 53.75 - 50.00 – 45.00

Trend: Bearish



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