Technical Analysis

Daily Technical analysis for November 2, 2020

Daily Technical analysis for November 2, 2020

EURUSD

The EURUSD is moving in a downward direction on the hourly interval. The price broke the support level of 1.1650 and is expected to reach the price level 1.1600.

Resistance levels: 1.1700 - 1.1800 - 1.1900

Support levels: 1.1600 - 1.1500 - 1.1400 

Trend: Bearish

 

GBPUSD

The GBPUSD pair is moving in an upward direction on the hourly interval. the pair targets the price level of 1.2800.

Resistance 1.3000 - 1.3100 -1.3200

Support: 1.2800 - 1.2700 - 1.2600

Direction: Bearish

 

USDJPY

The USDJPY pair is moving downwardly on the hourly interval. the pair is back to test the resistance level 105.00, and it is possible to drop from it to the level of 104.00.

Resistance 105.00 - 106.00 - 107.00

Support: 104.00 - 103.00 - 102.00

Trend: Bearish

 

Gold

Gold is moving in a downward direction on the hourly interval. The price broke the support level 1885 and came back to test it now, but we still expect a drop to the level of 1800.

Resistance: 1950 - 2000 - 2100

Support 1850 - 1750 - 1700

Trend: Bearish

 

Oil

Oil (Brent crude) is moving downwardly on the one-hour timeframe. The price touches the support level of 35.50, so we expect a corrective rise to the level of 37.50.

Resistance 40.00 - 42.00 - 43.00

Support: 35.00 - 34.00 - 33.00

Trend: Bearish


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