Technical Analysis

Daily Technical analysis for September 2, 2020

Daily Technical analysis for September 2, 2020

EURUSD

The EURUSD is moving in an upward direction on the hourly interval. the price has fallen from the upper bound of the classical channel, it is preferable to wait until it reaches 1.1800 to buy.

Resistance levels: 1.2000 - 1.2100 - 1.2200

Support levels: 1.1700 - 1.1600 - 1.1500  

Trend: Bullish

 

GBPUSD

The GBPUSD pair is moving in an upward direction on the hourly interval, where the price targets the 1.3500 price level as long as it stabilizes above the 1.3400 level.

Resistance 1.3400 - 1.3500 - 1.3600

Support: 1.3000 - 1.2900 - 1.2800

Direction: Bullish

 

USDJPY

The USDJPY pair is moving downwardly on the hourly interval. The price targets 104.00, but it is preferable to wait for the stability below 105.30.

Resistance 107.00- 108.00- 109.00

Support: 103.00 - 101.00 - 100.00

Trend: Bearish

 

Gold

Gold is showing volatile movements on the hourly interval. The price is still moving inside the triangle pattern, and we are waiting for its breakout to decide either buy or sell.

Resistance: 2100 - 2200 - 2300

Support 1850 - 1750 - 1700

Trend: Volatile

 

Oil

Oil (Brent crude) is moving in a bullish direction on the one-hour timeframe. We should await the breach of $46.00 and stability above it to buy until the level of $50.00.

Resistance 50.00 - 55.00 - 60.00

Support: 40.00 - 35.00 - 25.00

Trend: Bullish



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