Technical Analysis

Daily Technical analysis for September 16, 2020

Daily Technical analysis for September 16, 2020

EURUSD

The EURUSD is moving in a volatile direction on the hourly interval. The price is moving inside a rectangular pattern that we should wait for its breakout to decide whether to buy or sell.

Resistance levels: 1.2000 - 1.2100 - 1.2200

Support levels: 1.1700 - 1.1600 - 1.1500  

Trend: Volatile

 

GBPUSD

The GBPUSD pair is moving in a downward direction on the hourly interval. The pair is facing a strong support level, so it is preferable to wait until the price rises to 1.3000 to sell again.

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 after breaking the triangle pattern down. The price is facing a support level, if it breaks it, it will head towards the 104.50 price level.

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 expect further fall during the coming hours until the price level of 1885.

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. It is preferable to wait for the price to rise to 42.30 to sell again.

Resistance 50.00 - 55.00 - 60.00

Support: 35.00 - 30.00 - 28.00

Trend: Bearish



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