Technical Analysis

Daily Technical analysis for November 9, 2020

Daily Technical analysis for November 9, 2020

EURUSD

The EURUSD is moving in an upward direction on the hourly interval. The pair has breached important levels, and we await stability at 1.1880 to target the 1.1950 price level.

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. We await a re-test of the 104.00 price level to sell again, with a target of 103.00.

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 1900-1800-1750

Trend: Bullish

 

Oil

Oil (Brent crude) is moving in an upward direction on the one-hour timeframe. If it breaks through 41.30, it will target 42.50.

Resistance 40.00 - 42.00 - 43.00

Support: 38.00 - 37.00 - 35.00

Trend: Bullish



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