Technical Analysis

Daily Technical analysis for May 25, 2020

Daily Technical analysis for May 25, 2020

EURUSD

The EURUSD is showing volatility on the hourly interval, where the price has fallen from the upper boundary of the triangle pattern and further decline is expected until the bottom border of the 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 an upward direction, retesting the breached classic channel, and it is expected to rise from these levels.

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. The price targets the price level of 108.00 as a first target and then 109.00 after 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. If the price settles below the level of 35.00, it will target 29.00.

Resistance 35.00 - 40.00 - 45.00

Support: 15.00 - 13.00 - 10.00

Trend: Bullish



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