Technical Analysis

Daily Technical analysis for for May 21, 2020

Daily Technical analysis for May 21, 2020

EURUSD

The EURUSD is showing volatility on the hourly interval, where the price is now resistance compatible with the upper border of the triangle pattern.

Resistance levels: 1.1100 - 1.1300 - 1.1500

Support levels: 1.0700 - 1.0600 - 1.0500  

Trend: Volatile

 

GBPUSD

The GBPUSD pair is moving in bullish direction after breaching the classic descending channel on the daily timeframe, where the pair targets the price level of 1.2350.

Resistance 1.2250 - 1.2500 - 1.2700

Support: 1.1500 - 1.1400 - 1.1200

Direction: Bullish

USDJPY

The USDJPY pair is moving in an upside direction on the hourly interval. We are expecting a breach of the 108.00 price level and then targeting 109.00 after the penetration of the first target and stability above it.

Resistance 112.00 - 115.00 - 117.00

Support: 105.30 - 101.00 - 100.00

Trend: Bullish

 

Gold

Gold is moving upwardly over the hourly interval, where it is targeting 1770 price level again.

Resistance: 1800-1850 - 1900

Support 1700 - 1650 - 1600

Trend: Bullish

 

Oil

Oil (Brent crude) is moving in an upward direction on the one-hour timeframe, where the price is facing a resistance at the price level of $35.0 and it is likely to fall from it.

Resistance 35.00 - 40.00 - 45.00

Support: 15.00 - 13.00 - 10.00

Trend: Bullish



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