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Technical analysis report

5 Apr 2021 02:48 PM

EURUSD

The pair is still moving within the descending channel and is now near its lower boundary. If the pair succeeds in surpassing the 1.1790 resistance, the rise may extend to 1.1880 - 1.1985 levels.

But if the pair fell below 1.18 levels, it is likely to continue declining to 1.17/1.1670 levels.

GBPUSD

The pair tries to stable above 1.3850 levels, and if it succeeds, the rise may extend to 1.40 levels.

But if the price fell from the current levels, it may test the support 1.3675.

USDJPY

After the pair recorded its highest price at 110.96 levels, it faces a slight correction now, and it is possible that, by surpassing this peak, the rise will extend to 112.20 levels, which by surpassing it, it is expected to continue the rise to 1.1450 levels.

If this correction continues, it is likely to find support at 109.85-109.35 levels.

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 it 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 rose near 33250 and if it succeeds in holding above this level, the rise may extend to reach new highs of 33500 above.

But if the price fell below 33200, the decline may extend to test the support 32800, and then retreat below it, may retreat to the next support at 32069.

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