Technical Analysis

Daily Technical analysis for November 6, 2020

Daily Technical analysis for November 6, 2020

EURUSD

The EURUSD is moving in a downward direction on the hourly interval. The pair is moving in a triangle pattern, at the upper boundary, and we expect a drop from these levels.

Resistance levels: 1900 - 1.2000 - 1.2100

Support levels: 1.1700 - 1.1600 - 1.1500 

Trend: Bearish

 

GBPUSD

The GBPUSD pair is moving in an upward direction on the hourly interval. The pair is close to the resistance level at 1.3200, so we expect a correction.

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. We expect more downside, but it is preferable to wait until the pair rises to the resistance level of 104.00.

Resistance 104.00 - 105.00 - 106.00

Support: 102.00 - 101.00 - 100.00

Trend: Bearish

 

Gold

Gold is moving in an upward direction on the hourly interval. We are waiting for gold to be correct downwardly until the 1920 price level to buy again.

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. We await the correction of oil to the price level of 39.00 to buy.

Resistance 40.00 - 42.00 - 43.00

Support: 37.00 - 35.00 - 34.00

Trend: Bullish



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