Technical Analysis

Daily Technical analysis for March 23, 2020

Daily Technical analysis for March 23

EURUSD

The EURUSD is moving upwardly on the hourly interval. The price is facing resistance at 1.0775, which is likely to fall from it or it may drop from 1.0700.

Resistance levels: 1.1100 - 1.1300 - 1.1500

Support levels: 1.0700 - 1.0600 - 1.0500  

Trend: Bearish

 

GBPUSD

The GBPUSD pair is moving in a downside direction on the one-hour timeframe, forming a flag pattern. Therefore, we should wait for its breakout downwards to sell until 1.1400. 

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 a good support area at 110.00, and it is preferable to wait for a good price behavior to buy.  

Resistance 110.00 - 112.00 - 115.00

Support: 105.30 - 101.00 - 100.00

Trend: Bullish

 

Gold

Gold is showing volatility on the one-hour timeframe, as shown in the following image. The price may find support at 1450 price level, and it is expected to rise again to 1560.

Resistance: 1600 - 1650 - 1700

Support 1450 - 1400 - 1350

Trend: Volatile

 

Oil

Oil is moving in a bearish direction on the hourly interval after breaking the trend line. It is expected to rise to the price level of $30 a barrel.

Resistance 35.00 - 44.00 - 50.00

Support: 20.00 - 17.00 - 15.00

Trend: Bullish



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