Technical Analysis

Daily Technical analysis for October 9, 2020

Daily Technical analysis for October 9, 2020

EURUSD

The EURUSD is moving in a downward direction on the hourly interval, where the price touches the uptrend line and is likely to rise in the coming hours.

Resistance levels: 1.2000 - 1.2100 - 1.2200

Support levels: 1.1600 - 1.1500 - 1.1400  

Trend: Bearish

 

GBPUSD

The GBPUSD pair is moving in a downward direction on the hourly interval. The pair is likely to fall from the current levels to the price level of 1.2600.

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 is moving up from the ascending trend line, and it is likely to rise in the coming 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. 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 bullish direction on the one-hour timeframe. The price is now close to the resistance level of $43.00 a barrel, and we are waiting for a breakout to buy.

Resistance 50.00 - 55.00 - 60.00

Support: 35.00 - 30.00 - 28.00

Trend: Bullish



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