Technical Analysis

Daily Technical analysis for July 7, 2020

Daily Technical analysis for July 7, 2020

EURUSD

The EURUSD is moving to the upside on the hourly interval. We expect more bullishness towards 1.1400 price level.

Resistance levels: 1.1350 - 1.1400 - 1.1500

Support levels: 1.1100 - 1.1200 - 1.1250  

Trend: Bullish

 

GBPUSD

The GBPUSD pair is moving in a bullish direction after breaching the descending trend line, where it is likely to target the 1.2650 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 a bearish direction on the one-hour timeframe, where the price targeting the 106.50 price level.

Resistance 112.00 - 115.00 - 117.00

Support: 105.30 - 101.00 - 100.00

Trend: Bearish

 

Gold

Gold is moving upwardly over the hourly interval and may ascend to the 1800 price level.

Resistance: 1800-1850 - 1900

Support 1650 - 1600 - 1550

Trend: Bullish

 

Oil

Oil (Brent crude) is moving in a bullish direction 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: Bullish



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