Technical Analysis

Daily Technical analysis for March 19, 2020

Daily Technical analysis for March 19

EURUSD

The EURUSD is moving upwardly on the hourly interval. The price is may find support at 1.0775, so we should wait for its breach before selling.

Resistance levels: 1.1100 - 1.1300 - 1.1500

Support levels: 1.0775 - 1.0700 - 1.0600  

Trend: Bullish

 

GBPUSD

The GBPUSD pair is moving in a downside direction on the one-hour timeframe, but it nears strong support level at 1.1500, so we expect the pair to rise to 1.1800. 

Resistance 1.2115 - 1.2500 - 1.2730

Support: 1.1500 - 1.1400 - 1.1200

Direction: Bearish

 

USDJPY

The USDJPY pair is moving in an upside direction on the hourly interval. The price has reached strong resistance areas at the price level of 110.00.

Resistance 110.00 - 112.00 - 115.00

Support: 105.30 - 101.00 - 100.00

Trend: Bearish

 

Gold

Gold is showing volatility on the one-hour timeframe, as shown in the following image. The price is facing strong resistance at 1450 price level, and it is expected to return to the 1560 again.

Resistance: 1600 - 1650 - 1700

Support 1450 - 1400 - 1350

Trend: Bearish

 

Oil

Oil is moving in a bearish direction on the hourly interval, as shown in the following image. The price is close to the level of $20 a barrel, which represents a very strong support level.

Resistance 35.00 - 44.00 - 50.00

Support: 25.00 - 22.00 - 20.00

Trend: Bearish



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