Technical Analysis

Daily Technical analysis for March 20, 2020

Daily technical analysis

EURUSD

EURUSD moves bearishly over hourly basis whereas traders are facing strong resistances between 1.0775 and 1.0840, while potential downtrend resumption may start around 1.0900.

Resistance levels: 1.0900 - 1.1000 - 1.1300

Support levels: 1.0700 - 1.0600 – 1.0550

Trend: Bearish

  

GBPUSD

GBPUSD moves in a downtrend over hourly interval; whilst 1.1830-1.1850 zones represent good levels to resume the bearish actions since bears are waiting around 1.1830-1.1850.

Resistance 1.1800 - 1.2160 - 1.2500

Support: 1.1500 - 1.1400 - 1.1200

Direction: Bearish

  

USDJPY

USDJPY moves bullishly over hourly basis and 110.00 represent psychological levels. We should watch out the price behaviours around those levels.

Resistance 112.00 – 113.00 – 115.00

Support: 107.00 – 105.00 – 104.00

Trend: Bullish

 

 Gold

Gold doesn’t show a clear direction fluctuating around 1450.00 zone, but we do believe it may move to the upside in order to re-test the critical levels of $1560.00 per ounce.

Resistance: 1600 - 1650 - 1700

Support 1450 - 1400 - 1350

Trend: Sideway

 

 

Oil

Oil moved to the upside after breaching the resistance line-turned into support- and more bullish movements are highly anticipated targeting $30 territories.

Resistance 35.00 - 44.00 - 50.00

Support: 25.00 - 22.00 - 20.00

Trend: Bullish

 

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