Technical analysis report

21 Sep 2020 04:21 PM

EURUSD

The pair faces support level at 1.1750 levels, and if it is maintained, we expect to target 1.1900 - 1.2000.

As for the break of 1.1750 support, a drop to 1.1700-1.1600 levels is expected.

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GBPUSD

This pair fell below 1.2980 levels and reached our target of 1.2800. We expect it to test 1.2900 - 1.2980. If surpassing this level, we might target 1.3050.

If the pair retreats below 1.2770 levels, the declines are expected to continue towards 1.2700 - 1.2600.

But if the pair stable above 1.30 level, it may target 1.3050 and then 1.3250.

USDJPY

The pair broke the support level of 105.00, so it is expected to complete the drop to 104.20-103.00 levels. The pair's resistance are 105.00 - 106.50.

Gold

Gold is moving inside a descending triangle pattern on the 4 hour chart. It faced resistance at 1970 levels and retreated to 1940 levels. It is expected to complete the decline to 1905 levels, which by breaking it we may target $ 1860.

As for its rise and surpasses the 1970 resistance, it may target the levels of 1993 and then 2015.

WTI

Oil succeeded to reach its target at 41.70, which we indicated in yesterday's analysis, and it is expected that in the event of a retreat from it, it may correct to support levels of $ 39.00.

But if it breaks the resistance of 41.70, it is expected that we will continue rising to 43.50 levels.

Dow Jones

The Dow Jones index faced resistance at 28100-28200 and retreated to 27500 levels.

We expect a break of 27400 support to target 27,000 points. If the index rise above 27400 levels, it may test 628200 resistance

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