Technical Analysis

Daily Technical analysis for October 12, 2020

Daily Technical analysis for October 12, 2020

EURUSD

The EURUSD is moving in an upward direction on the hourly interval. it is likely that the pair will continue to rise up to the level of 1.2000.

Resistance levels: 1.2000 - 1.2100 - 1.2200

Support levels: 1.1600 - 1.1500 - 1.1400  

Trend: Bullish

 

GBPUSD

The GBPUSD pair is moving in a downward direction on the hourly interval. The pair is facing the 1.3050 resistance level, and it is likely to fall from these levels.

Resistance 1.3500 - 1.3600 - 1.3700

Support: 1.2750 - 1.2600 - 1.2500

Direction: Bearish

 

USDJPY

The USDJPY pair is moving downwardly on the hourly interval. The pair broke the uptrend line, and it is likely to fall within the next hours.

Resistance 107.00- 108.00- 109.00

Support: 103.00 - 101.00 - 100.00

Trend: Bearish

 

Gold

Gold is moving in a downward direction on the hourly interval. The pair is facing the upper bound of the descending channel, and it is likely that it will fall to the level of 1865.00.

Resistance: 2100 - 2200 - 2300

Support 1850 - 1750 - 1700

Trend: Bearish

 

Oil

Oil (Brent crude) is moving in a bullish direction on the one-hour timeframe. We are waiting for the price to re-test the breached classic channel to buy again.

Resistance 50.00 - 55.00 - 60.00

Support: 35.00 - 30.00 - 28.00

Trend: Bullish



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