Technical Analysis

Daily Technical analysis for May 4, 2020

Daily Technical analysis for May 4

EURUSD

The EURUSD is moving in an upward direction on the hourly interval, where the price is now facing support at 1.0930 and is likely to rise to the 1.1000 price level.

Resistance levels: 1.1100 - 1.1300 - 1.1500

Support levels: 1.0700 - 1.0600 - 1.0500  

Trend: Bullish

 

GBPUSD

The GBPUSD pair is moving higher on the one-hour timeframe, and is likely to rise to the level of 1.2700. 

Resistance 1.2250 - 1.2500 - 1.2700

Support: 1.1500 - 1.1400 - 1.1200

Direction: Bullish

 

USDJPY

The USDJPY pair is moving in a down trend on the hourly interval, where the price is targeting the price level of 105.00.

Resistance 112.00 - 115.00 - 117.00

Support: 105.30 - 101.00 - 100.00

Trend: Bearish

 

Gold

Gold is in moving to the downside over the hourly interval. If the price stabilizes below the 1700 level, it is likely that it will target 1650.

Resistance: 1750 - 1800- 1850

Support 1560 - 1500 - 1400

Trend: Bearish

 

Oil

Oil (Brent crude) is moving in a downward direction on the one-hour timeframe. The price is facing resistance and it is likely to continue its decline during the coming hours.

Resistance 25.00 - 30.00 - 35.00

Support: 15.00 - 13.00 - 10.00

Trend: Bearish



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