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Technical analysis report

1 Apr 2021 04:48 PM

EURUSD

The pair tries to rise 1.1760, if it succeeds, the rise may extend to test 1.1899. But if the pair is stable below 1.1760, the drop will likely extend to 1.1600 levels.

GBPUSD

The pair approached the resistance level 1.3850, and if it succeeded in surpassing this level, the rise may extend to 1.40 levels.

But if the pair is trading below 1.3850, the downside possibility is possible to test the support levels 1.3740 - 1.3700.

USDJPY

The pair formed a symmetrical triangle pattern, and it is possible that, by crossing 110.85, it will continue its rise to the levels of 111.25 / 50.

Support levels 110.40, if broken, the drop may extend to 109.85.

USDCHF

The pair succeeded in reaching the 0.9466 level, which we referred to in the last analysis, but it bounced down from it, and it is likely that it will correct to 0.9411 levels, and if it is broken, the drop may extend to 0.9375.

But if it breaks the resistance 0.9466, the rise will likely extend to 0.9530 levels.

 

USDCAD

The pair is still moving near the upper bound of the descending channel, and it is likely to decline to 1.2490 - 1.2370.

The negative scenario will not change except in the case of the price rising above 1.2750, and any corrections to the upside may be a correction before falling again.

AUDUSD

The pair is still maintaining the support at 0.7560, so it is likely to hold steady above 0.7700 - 0.7840.

But if if break the support 0.7560, it is possible to decline 0.7450.

Gold

Gold rose to the upper bound of the descending channel, which represents a strong resistance for it at levels of $1727, and it is likely that it will correct it to levels of 1700, which breaching it may extend the drop to 1676.

But if it succeeds in surpassing 1727, it is likely that the rise will extend to 1755, which by surpassing it may support the rise to 1812 levels.

Silver

Silver broke the important support at 24.50, and it is likely that it will remain intact below this level to continue its decline towards 21.87.

It is important to maintain the 24.50 level, to see a rise that extends to 26.50

Oil

Oil is moving in a sideways move between the $62.00 resistance and it is now near it, and it is likely to rebound from it to support the sideways channel at $57.00.

But if it succeeds in crossing $62.00, the rally will likely extend to $63.50

Dow Jones

The Dow Jones records it highest level at 33229, and if it succeeds in surpassing this level, the rise may extend to reach new highs of 33500.

But if the price retreat from the current resistance, the drop may extend to test the support 32800, and then retreat below it, it may retreat to the next support at 32069.

DAX

The DAX succeed to surpass the 15000 high, so the bullish trend is likely to extend and see new historical highs above 15500 levels.

But if it pulled back from the current levels, it might test the support 14950, which in case it is broken, the correct direction may extend to the next support at 14800.

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