Technical analysis report

12 Nov 2020 04:26 PM

EURUSD

This pair is moving between 1.1900 levels as a resistance level and 1.1600 - a good support level.

We expect a break of this resistance to target 1.2000 - 1.2150 levels.

If the price retreats from current levels, it may target support at 1.1600, which breaching it may lead to the continuation of declines towards 1.1450 levels.

GBPUSD

This pair faced resistance at the upper bound of the rising channel at 1.3300 levels and retreated from it to 1.3150 levels. We expect the current correction to continue to the support levels at 1.3070 - 1.2950.

The pair's resistance levels are at 1.3300, around which we would target 1.3400 - 1.3500.

USDJPY

This pair faces resistance at 105.50; we expect it to retreat to the support levels of 104.00, then 103.00.

If it succeeds in surpassing the resistance at 105.50, it might target 106.00 - 107.00.

 

USDCHF

This pair broke 0.9030 support and retreated to 0.9000. We expect the breach of this support to accelerate and target 0.8900 - 0.8860.

Resistance levels are 0.9030 / 0.9090.

USDCAD

This pair broke 1.3100 support, and we expect it to target 1.2950. Resistance in  case of the upside is 1.3100; if it surpasses it, we would target 1.3177.

AUDUSD

This pair faces support at 0.7240 levels. We expect that if the price remains above this, it would target 0.7340 resistance, then 0.7410.

If it breaks 0.7240 support, we expect that it would fall to 0.7150 levels.

Gold

Gold succeeded in maintaining $1848 and we expect it to target   1900 - 1970.

If it crosses 1848, we would expect it to target $ 1790-1750.

 

Silver

Silver is moving in a sideways channel inclined to ascend. It has a resistance level of $26.00, and the price may face upward pressure.

If it reaches 23.50,  23.00 is a good support level.

You can trade between these levels by buying on support and selling at resistance until breaking out of this channel and determining the next expected direction.

 

Oil

Oil succeeded in surpassing 41.50 resistance and rose to 43.00 levels, but it has now retreated to retest 41.50 levels.

We expect to maintain this level, targeting 43.80, and then surpassing it to target 48.50.

If the price falls below the 41.50 support level, we may target 39.50-37.00

Dow Jones

The index attempted to surpass the historical resistance level at 29600 and succeeded in doing so, but it could not stabilize above it. Sellers soon intervened to drop the index below 29600 again.

Currently, our expectations for the index if it trades below 29600 levels, it is qualified to retreat to support levels 29000 - 28600.

If it succeeds in holding the highest levels of 29600, we may target 30,000 - 31,500 points.

DAX

The SAX faces a strong resistance at 13300/400 levels, which it more than once tried and failed to to surpass. Therefore, if it continues trading below this resistance, we may target support levels at 12300 -11600.

If it succeeds in overcoming the resistance at 13400, we may target 13800-14000 points.

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