Technical analysis report

23 Nov 2020 03:04 PM

EURUSD

This pair retreated slightly before reaching the 1.1900 level, which represents the current resistance level. We expect to overcome it to target 1.2000 - 1.2150 levels.

If the pair is trading below the 1.1900 level, it will likely target the support at 1.1740. If it breaches this, we would expect it to decline to 1.1600 levels.

GBPUSD

This pair is still near the upper bound of the rising channel at 1.3300 levels. We expect to overcome it and potentially target 1.3400 - 1.3500.

If the price falls, it will face support at 1.3100; if it breaks this, we may target 1.2850 levels.

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 is still moving between 0.9000 support and 0.9200 resistance. We expect any break of the resistance to target 0.9300 levels.

If the price retreats from current levels, it may target the support at 0.9000; if it breaks these, we would expect it to target 0.8800.

USDCAD

This pair is moving in narrow sideway range around 1.3100 level and we expect the price may target 1.3030 and by breaking it, targeting 1.2950.

The resistance of the pair is 1.3170 and we expect by breaking through it may target 1.3250.

AUDUSD

This pair succeeded in rising near the resistance level at 0.7340. If it succeeds in surpassing this, we would expect the pair to target 0.7410.

If the price falls from 0.7340 resistance, it may target 0.7220 - 0.7240.

Gold

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

If the price breaks 1848 support, it may target $ 1790 – 1750.

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Silver

Silver is moving within a bullish channel on the daily frame. The price has retreated today and is approaching the bottom of the channel at 23.25 levels; it is possible that it will bounce back to test the resistance at 25.00 - 26.25.

Support levels are 23.25 / 23.00. If the price falls below these levels, we may target 21.50.

Oil

Oil rose to 43.25 levels but faces resistance; we expect it to fall from there to 41.50 - 40.75 levels. If the price successes in surpassing it, it may target the second resistance levels at 43.80, then 48.00.

Dow Jones

This index fell yesterday and broke the support at 29,500 points, and we expect the decline to continue to around 28880. If this is broken, we may target 28000.

If the pair rises above 29500 levels, we may target the top of the index at 30100. If it bypasses this, we may target 30500-31000.

DAX

The DAX faces strong resistance at 13300/13400 levels, which it tried and failed to surpass more than once. If it continues trading below this level, it 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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