Technical Analysis

Daily Technical analysis for June 5, 2020

Daily Technical analysis for June 5, 2020

EURUSD

The EURUSD is moving to the upside on the hourly interval, where the price may breach resistance at 1.1250 and therefore it is possible to rise to the level of 1.1350.

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 an upward direction. The price has soared after finding support represented in the bullish trend line, so we expect more rise today.

Resistance 1.2250 - 1.2500 - 1.2700

Support: 1.1500 - 1.1400 - 1.1200

Direction: Bullish

 

USDJPY

The USDJPY pair is moving in a bullish direction on the one-hour timeframe. The price is facing resistance at the upper boundary of the bullish classic channel, so we expect a downside correction in the coming hours.

Resistance 112.00 - 115.00 - 117.00

Support: 105.30 - 101.00 - 100.00

Trend: Bullish

 

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, but it faces a resistance level at 40.00 a barrel, so we expect it to fall to the price level of 35.00 before going up.

Resistance 40.00 - 45.00 - 50.00

Support: 25.00 - 30.00 - 35.00

Trend: Bullish



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