Technical Analysis

Daily Technical analysis for October 6, 2020

Daily Technical analysis for October 6, 2020

EURUSD

The EURUSD is moving in a downward direction on the hourly interval. The price retests the broken rectangle, and it may fall from the current levels.

Resistance levels: 1.2000 - 1.2100 - 1.2200

Support levels: 1.1700 - 1.1600 - 1.1500  

Trend: Bearish

 

GBPUSD

The GBPUSD pair is moving in a downward direction on the hourly interval. the pair is likely to fall from the 1.3050 price level.

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. If the price stabilizes below 105.30, it will target 104.00.

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. We should await stability below the 1865 price level to sell again.

Resistance: 2100 - 2200 - 2300

Support 1850 - 1750 - 1700

Trend: Bearish

 

Oil

Oil (Brent crude) is moving in a bearish direction on the one-hour timeframe. Oil fell strongly, targeting the price level of $40.00 a barrel.

Resistance 50.00 - 55.00 - 60.00

Support: 35.00 - 30.00 - 28.00

Trend: Bearish



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