Technical Analysis

Daily Technical analysis for November 10, 2020

Daily Technical analysis for November 10, 2020

EURUSD

The EURUSD is moving in an upward direction on the hourly interval. The pair is close to the 1.1780 price level, which represents a support level, and we expect it to rise in the coming hours.

Resistance levels: 1900 - 1.2000 - 1.2100

Support levels: 1.1700 - 1.1600 - 1.1500 

Trend: Bullish

 

GBPUSD

The GBPUSD pair is moving in an upward direction on the hourly interval, close to the resistance level at 1.3200, so we expect a correction and can buy back from 1.3100 levels.

Resistance 1.3200 - 1.3300 -1.3400

Support: 1.3000 - 1.2900 - 1.2800

Direction: Bullish

 

USDJPY

The USDJPY pair is moving downwardly on the hourly interval. The price touches the descending trend line, so we expect it to decline during the coming hours until the price level of 103.00.

Resistance 106.00 - 107.00 -108.00

Support: 103.00 - 102.00 - 101.00

Trend: Bearish

 

Gold

Gold is showing volatile movements on the hourly interval. We await the break or breach of the upper or lower boundary of the rectangle pattern for buying or selling.

Resistance: 1950 - 2000 - 2100

Support 1800- 1750- 1700

Trend: Volatile

 

Oil

Oil (Brent crude) is moving in an upward direction on the one-hour timeframe. The price is close to the support level of 41.30, and we expect it to rise to the level of 42.00.

Resistance 42.00 - 43.00 - 45.00

Support: 40.00 - 38.00 - 37.00

Trend: Bullish



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