Technical Analysis

Daily Technical analysis for July 20, 2020

Daily Technical analysis for July 20, 2020

EURUSD

The EURUSD is moving to the upside on the hourly interval. We expect more bullishness towards 1.1500 price level.

Resistance levels: 1.1400 - 1.1500 - 1.1600

Support levels: 1.1100 - 1.1200 - 1.1250  

Trend: Bullish

 

GBPUSD

The GBPUSD pair is moving in a bearish direction after breaching the descending trend line, where it is likely to target the 1.2500 price level

Resistance 1.2250 - 1.2500 - 1.2700

Support: 1.1500 - 1.1400 - 1.1200

Direction: Bearish

 

USDJPY

The USDJPY pair is moving in an upward direction after breaching the classic bullish channel, and it is likely to target the 107.60 price level.

Resistance 112.00 - 115.00 - 117.00

Support: 105.30 - 101.00 - 100.00

Trend: Bullish

 

Gold

Gold is moving in a downtrend on the hourly interval after breaking the uptrend line, where it is likely to target 1772.00 price level.

Resistance: 1850 - 1900 - 1950

Support 1650 - 1600 - 1550

Trend: Bearish

 

Oil

Oil (Brent crude) is showing volatility on the one-hour timeframe, where the price is targeting the price level of $35.00 a barrel, provided that it breaches the level of 40.00.

Resistance 50.00 - 55.00 - 60.00

Support: 25.00 - 30.00 - 35.00

Trend: Volatile



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