Technical Analysis

Daily Technical analysis for November 3, 2020

Daily Technical analysis for November 3, 2020

EURUSD

The EURUSD is moving in a downward direction on the hourly interval. we are waiting for the price to reach 1.1690, to sell until 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 is facing resistance at 1900, so we expect a drop to the level of 1800.

Resistance: 1950 - 2000 - 2100

Support 1850 - 1750 - 1700

Trend: Bearish

 

Oil

Oil (Brent crude) is moving in an upward direction on the one-hour timeframe. The price is close to the resistance level 40.00, so we expect a drop to the level of 38.00.

Resistance 40.00 - 42.00 - 43.00

Support: 35.00 - 34.00 - 33.00

Trend: Bullish



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