Technical Analysis

Daily Technical analysis for July 24, 2020

Daily Technical analysis for July 24, 2020

EURUSD

The EURUSD is moving to the upside on the hourly interval. We expect more bullishness and closing above 1.1600 price level, which would push the price towards 1.1650.

Resistance levels: 1.1700 - 1.1800 - 1.1850

Support levels: 1.1400 - 1.1300 - 1.1250  

Trend: Bullish

 

GBPUSD

The GBPUSD pair is moving in an upward direction, possibly targeting the 1.2750 price level.

Resistance 1.2750 - 1.2800 - 1.3000

Support: 1.2500 - 1.2400 - 1.2300

Direction: Bullish

 

USDJPY

The USDJPY pair is moving in a downward direction on the hourly interval, where the price is targeting the 105.00 price level.

Resistance 112.00 - 115.00 - 117.00

Support: 105.30 - 101.00 - 100.00

Trend: Bearish

 

Gold

Gold is moving in an upward direction on the hourly interval. The price is facing a strong resistance level at 1900 and it may drop to 1850 price level before going up again.

Resistance: 1900 - 1950 -2000

Support 1650 - 1600 - 1550

Trend: Bullish

 

Oil

Oil (Brent crude) is moving upwardly on the one-hour timeframe, where the price is having a support level represented by the upward trend line. We expect it to rise again to the level of $45 a barrel.

Resistance 50.00 - 55.00 - 60.00

Support: 25.00 - 30.00 - 35.00

Trend: Bullish



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