Technical Analysis

Daily Technical analysis for May 29, 2020

Daily Technical analysis for May 29, 2020

EURUSD

The EURUSD is moving to the upside on the hourly interval, where the price rose until it reached the resistance level of 1.1100. Therefore, we expect a correction in the coming hours.

Resistance levels: 1.1100 - 1.1300 - 1.1500

Support levels: 1.0700 - 1.0600 - 1.0500  

Trend: Bullish

 

GBPUSD

The GBPUSD pair is moving in an upward direction. The price is moving in the range of the bullish classic channel, and it is likely to continue to rise until the price level of 1.2400.

Resistance 1.2250 - 1.2500 - 1.2700

Support: 1.1500 - 1.1400 - 1.1200

Direction: Bullish

 

USDJPY

The USDJPY pair is moving in a bearish direction on the one-hour timeframe. If the price settles below 107.30 price level, it will target 106.50.

Resistance 112.00 - 115.00 - 117.00

Support: 105.30 - 101.00 - 100.00

Trend: Volatile

 

Gold

Gold is moving downwardly over the hourly interval, where it is targeting 1660 price level.

Resistance: 1800-1850 - 1900

Support 1700 - 1650 - 1600

Trend: Bearish

 

Oil

Oil (Brent crude) is moving in an upward direction on the one-hour timeframe. After settling down below the price level of $35.00 a barrel, the price targets the level of $30.

Resistance 40.00 - 45.00 - 50.00

Support: 25.00 - 30.00 - 35.00

Trend: Bearish



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