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Technical analysis report

4 Mar 2021 05:07 PM

EURUSD

The pair retreated near the support at 1.2020 and if it maintains stability above that level, it is likely to test 1.2150/80 resistances.

Support levels for the pair 1.2020 - 1.1950.

GBPUSD

The pair succeeded in achieving its expected target at 1.40, but it failed in surpassing it and retreated slightly. A break at 1.40 could target 1.4200.

It is likely that it will test the support at 1.3840, and if it is broken, the decline may continue to the next support level at 1.3750.

USDJPY

The pair succeeded in surpassing the upper bound of the ascending channel on the 4-hour chart, and if it stabilizes above 107.00, it will possibly continue rising to 108.00.

Support levels are 107.00 - 106.20.

USDCHF

The pair succeeded in achieving the target at 0.92 breaking upwards, and it is possible to complete the rise to 0.9294.

Support levels for the pair 0.9200 - 0.9140.

USDCAD

The pair succeeded in bouncing from the support level at 1.2500, and it is likely that it targets the level of 1.28-1.2880.

Support levels for the pair are 1.2600-1.2500.

AUDUSD

The pair tried to hold above 0.7820, but it failed and fell again. It is likely to test the 0.77 support, and if broken, it may continue to decline to 0.7580 levels.

But if it breaks above 0.7820, it may continue to rise to 0.7900.

Gold

Gold is moving between the support at 1700 and the resistance at 1740. If it succeeds in overcoming the resistance, it will likely target 1760/70 levels.

But with a break of the 1700 support, the decline to 1680 is likely to continue.

Silver

Silver is moving between support levels of $24.50 and resistance of $28.00. We expect it to test the support and if it continues, it will likely rebound to the upside and test the resistance at $28.00. But if it breaks the support at $24.50, it may continue its decline towards $21.87.

Oil

Oil rose to 63.70, but it faced resistance, retreated, and broke the 61.00 support, so it could target levels of 58.70-57.00.

But if it breaks the 61 level, it may test the resistance 63.70.

Dow Jones

The Dow Jones is moving in a trumpet pattern, and it is possible to break the 31700 resistance to target 32250.

But if the Dow Jones is trading below the 31700 support levels, it is possible to drop to the 30700 support levels.

DAX

The German DAX is moving in an ascending triangle pattern and its historical resistance is near 14200 points.

If the index stabilizes above 14200, it is likely to continue its rise and record new historical highs at 14500-15000.

Support levels are 13600 - 13300.

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