Technical analysis report

25 Aug 2020 01:14 PM

EURUSD

This pair tried to surpass the upper bound of the cross-region of $1.1900, but it went on to retreat below it. Our expectations are for it to test 1.1700 levels.

In the event of a rise and beyond the 1.1950 resistance, the pair may target 1.20 - 1.2050 levels.

GBPUSD

This pair retreated to the support level of $1.3060. Our expectations are that if it maintains this level, the pair could rise and test 1.3270.

However, our outlook will change if the price breaks the 1.3060 and 1.2980 support levels, when the pair could drop to 1.2900 / 1.2800.

USDJPY

This pair is still moving within the descending channel's range on the daily frame, and it may face resistance at 107.00. If it succeeds in surpassing this level, it may target 107.60, which represents the upper bound of the descending channel.

The support levels of the pair are 105.00 - 104.00 - 103.50.

Gold

Gold is moving between the $1924 support and the 1956 resistance.

We expect a break of the support level of 1924 to target the levels of 1900, then 1860.

In crossing the 1956 resistance, we expect gold to rise to the next resistance at 1990 levels.

Gold is currently facing weaknesses in its performance that may lead to a corrective decline, but the general trend is still bullish.

WTI

Oil is facing a support level of $41.70. We expect it to maintain it while targeting 43.50; if it surpasses this, the next target would be 45.00.

In the event of a break of the 41.70 support, oil may fall to 40.50-39.00.

Dow Jones

The Dow Jones succeeded in overcoming resistance at 28150 during yesterday's session, and it is expected that we will complete 29,000 points.

Support levels for the index are 27450; if this is breached, it may retreat to 27000 levels.

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