Technical Analysis

Daily Technical analysis for June 2, 2020

Daily Technical analysis for June 2

EURUSD

The EURUSD is moving to the upside on the hourly interval, where the price is expected to target 1.1200 price level over the coming hours.

Resistance levels: 1.1100 - 1.1300 - 1.1500

Support levels: 1.0700 - 1.0600 - 1.0500  

Trend: Bullish

 

GBPUSD

The GBPUSD pair is moving in an upward direction. The price is moving in the range of the bullish classic channel. It is possible to do a downside correction to the level of 1.2400 before going up again.

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. If the price breaches 107.30 price level, it will target 106.50.

Resistance 112.00 - 115.00 - 117.00

Support: 105.30 - 101.00 - 100.00

Trend: Volatile

 

Gold

Gold is moving downwardly over the hourly interval, where the price is targeting 1660 price level.

Resistance: 1800-1850 - 1900

Support 1700 - 1650 - 1600

Trend: Bearish

 

Oil

Oil (Brent crude) is moving in an upward direction on the one-hour timeframe, where the price is likely to target $40.00 a barrel.

Resistance 40.00 - 45.00 - 50.00

Support: 25.00 - 30.00 - 35.00

Trend: Bullish



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