Technical Analysis

Daily Technical analysis for January 9, 2020

Daily Technical analysis for January 9

EURUSD

The EURUSD is still moving in an upside direction on the hourly interval and near the trend line. We expect more bullishness today to 1.2500 levels.

Resistance levels: 1.1250 - 1.1300 - 1.1350

Support levels: 1.1110- 1.0990 - 1.0940

Trend: Bullish

 

GBPUSD

The GBPUSD fell after retesting the broken upward trend line on the hourly timeframe. We expect the price to drop further until it reaches the level of 1.2775.

Resistance 1.3500 -1.3600 - 1.3650

Support: 1.2270 - 1.2250 - 1.2200

Direction: Bearish

USDJPY

The USDJPY is in a bearish direction on the hourly interval, as the price has broken the trend line and is retesting it now. We expect it to decline today until the price level of 108.45.

Resistance 109.70 - 110.00 - 110.50

Support: 107.90 - 107.50 - 107.00

Trend: Bearish

 

Gold

Gold is moving in a bullish direction on the hourly interval and the price is touching the upside trend line and is likely to rise in the coming hours.

Resistance: 1600 - 1625 - 1650

Support: 1551- 1524 - 1506

 

Oil

As we expected yesterday, oil fell but it is still moving in an upside direction over the one-hour timeframe, as shown in 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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