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Technical analysis report

8 Apr 2021 03:32 PM

EURUSD

The pair succeeded in rising to 1.1880, and it is possible that the rise will extend to 1.1985, but if prices remain above 1.1850 levels, but if the pair falls below it, it may test the support levels 1.1790/50.

GBPUSD

The pair retreated to 1.3740 levels, possibly moving in a sideways channel between 1.3670 support and 1.3850 resistance and can be traded between them.

If the price broke support level at 1.3670, the fall may extend to 1.3460 levels. But if it breaks the resistance 1.3850, the rise might extend to 1.40.

USDJPY

The pair retreated to the support area 109.35 / 85, if it maintains stability above this area, it is likely to rebound from it to test the resistance of 110.96, which by surpassing it may extend the rise to 112.00.

But if it dips below 109.35, the drop will likely extend to 108.30.

USDCHF

The pair retreated and broke the support 0.9350, and it is possible that the current decline will extend to 0.9229.

If the price rise, it may face a resistance at 0.9360 that may impede its rise, but if it breaks it, the rise may extend to 0.9466.

 

USDCAD

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

Resistance of the pair 1.2650, if it is breached, the rise may extend to 1.2740.

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 breaks the support 0.7560, it is possible to decline 0.7450.

Gold

Gold succeeded in surpassing the upper bound of the descending channel that it was moving inside, and it is expected that it will test the resistance 1755, which bypassing it may extend the rise to the levels of $1800.

The support level for gold 1720, if broken, may extend the decline 1700-1676.

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 still moving in a sideways movement between the $62.00 resistance and the support at $57.00. If it succeeds in surpassing $62.00, the rally will likely extend to $63.50.

But if we break $57.00, the drop may extend to $54.00.

It is possible to trade between the two boundaries of the cross channel until exiting it.

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.

DAX

The German DAX is moving between the support 15150 and the resistance 15300. If the index breaks the support 15150, the drop may extend to 15000 points.

But if the index maintains the 15150 level, it is likely to test 15300, and surpassing it, the rise may extend to 15500.

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