Technical Analysis

Daily Technical analysis for October 28, 2020

Daily Technical analysis for October 28, 2020

EURUSD

The EURUSD is moving in an upward direction on the hourly interval. It is better to wait for the drop to the level of 1.1720 to buy again.

Resistance levels: 1.1830 - 1.1900 - 1.2000

Support levels: 1.1700 - 1.1750 - 1.1800 

Trend: Bullish

 

GBPUSD

The GBPUSD pair is moving in an upward direction on the hourly interval. The price is close to the lower bound of the ascending classical channel, and it is likely to rise to 1.3150.

Resistance 1.3100 - 1.3200 -1.3300

Support: 1.2900 - 1.2800 - 1.2700

Direction: Bullish

 

USDJPY

The USDJPY pair is moving downwardly on the hourly interval. The price fell strongly and is likely to rise, as a correction, to 105.00 because the price is close to the lower bound of the descending channel.

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 uptrend line, so we expect a drop to the level of 1875.

Resistance: 2000 - 2100 - 2200

Support 1850 - 1750 - 1700

Trend: Bearish

 

Oil

Oil (Brent crude) is moving downwardly on the one-hour timeframe. Oil fell strongly yesterday, and we expect more decline to the level of $40.00 a barrel.

Resistance 43.00 - 45.00 - 47.00

Support: 39.00 - 37.00 - 35.00

Trend: Bearish



Share Article