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Technical analysis report

2 Aug 2021 03:43 PM

EURUSD

The pair succeeded in achieving its target at 1.1880 and is now trying to move above it, so the rise is expected to extend to 1.1950/70 levels.

But if it falls below 1.1850, it is likely to face a correction to 1.1780 levels.

GBPUSD

The pair has crossed the upper boundary of the descending channel and succeeded in surpassing the resistance 1.39, and it may remain above it, to extend the rise to levels of 1.3980 - 1.4060.

Support levels for the pair 1.3880-1.3840.

USDJPY

The pair retreated from 109.80, which represents the upper boundary of the descending channel, within which it is moving, so the decline is likely to extend to 109.35-109.00 levels.

But if the price surpassed the 109.80 level, the rise is expected to extend to 110.20 levels.

USDCHF

The pair broke the lower boundary of the falling wedge pattern, which is moving inside it, and the decline is likely to extend to 0.9040 levels, and breaking it may extend to 0.9000.

But if it rises above the 0.9100 resistance, it is likely to continue rising to 0.9130-0.9170 levels.

USDCAD

The pair fell near the support level of 1.2430, and it is likely that by maintaining it, it will rise again to test the levels of 1.2525-1.2600.

However, with the pair breaking the support 1.2430, this is likely to contribute to the extension of the decline to 1.2300 levels.

AUDUSD

The pair retreated from the upper boundary of the descending channel, but it is still trading below the resistance 0.7400, which by surpassing it may contribute to extending the ascent to 0.7485 levels.

Support levels for the pair are 0.7315 - 72.80.

Gold

After gold rose to 1832 levels, it faced a correction process and retraced from it and is now trading below the 1812 level, so the decline is likely to extend to 1790 levels.

But if the resistance of $1833 is exceeded, the rise to 1850 levels will continue.

Resistance levels are 1812-1832

Silver

Silver retreated and broke the support 25.50, so the decline is likely to extend to 24.50 - 23.75 levels.

If it rises above 25.50, it is likely to continue its rise to 26.75 levels.

Oil

Oil has breached the resistance at $72.00 and it will likely stabilize above it to contribute to the extension of the rise to 74.00 levels.

Support levels are 72.00 - 71.00.

Dow Jones

The Dow Jones is facing strong resistance at 35100 and it is likely that by not surpassing it, it will return to the decline and correct the levels of 34600-34100.

But by exceeding 35100, the rise is likely to extend to the levels of 35500 points.

DAX

The index faces resistance at 15800 levels, which is tested on more than once but is retreating from it, so, likely, it will not succeed in surpassing it to fall back to the support 15400 - 15200.

But if it succeeds in surpassing the resistance 15800, it is expected that the rise will extend to the level of 16000 points.

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