Technical Analysis

Daily Technical analysis for July 21, 2020

Daily Technical analysis for July 21, 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 bullish direction after breaching the resistance level at 1.2650, where the price is likely to target the 1.2700 price level.

Resistance 1.2250 - 1.2500 - 1.2700

Support: 1.1500 - 1.1400 - 1.1200

Direction: Bullish

 

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 an upward direction on the hourly interval after breaching the resistance level of 1810, and it is likely that it will target the 1850 level before falling.

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 the price is facing a resistance at the price level of $43.00 a barrel.

Resistance 50.00 - 55.00 - 60.00

Support: 25.00 - 30.00 - 35.00

Trend: Volatile



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