Technical Analysis

Daily Technical analysis for September 9, 2020

Daily Technical analysis for September 9, 2020

EURUSD

The EURUSD is moving in an upward direction on the hourly interval. it is likely that the price will drop to the level of 1.1720.

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. We should await a price stability below the level of 1.3000 to sell to the price level of 1.2900..

Resistance 1.3500 - 1.3600 - 1.3700

Support: 1.2900 - 1.2800 - 1.2700

Direction: Bearish

 

USDJPY

The USDJPY pair is showing volatility on the hourly interval. The pair is moving in a triangle pattern, and we are waiting for it to be broken or breached before buying or selling.

Resistance 107.00- 108.00- 109.00

Support: 103.00 - 101.00 - 100.00

Trend: Volatile

 

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. The prices has breached the level of $40.00 a barrel, and it is likely to head towards the level of $38.00.

Resistance 50.00 - 55.00 - 60.00

Support: 35.00 - 30.00 - 28.00

Trend: Bearish



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