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Technical analysis report

19 Jan 2021 04:03 PM

EURUSD

The pair succeeded in maintaining 1.2050 support, which we referred to in yesterday's analysis, and back again to test the 1.2130 level, which bypassing it might target the 1.2225 level. But if it retreats and breaks the support 1.2050, it may target 1.1900.

GBPUSD

The pair retreated after failing to surpass 1.3700 resistance, and we expect it to target 1.3450, which breaching it will likely complete the decline to support the ascending channel at 1.3340. The pair's resistances are 1.3620-1.3700.

USDJPY

The pair retreated from the resistance of the upper boundary of the descending channel 104.37 and tried to overcome it, but failed, so we are likely to target the support levels 103.40 - 102.50.

As for the pair exceeding the resistance 104.37, we might target 105.60 / 106.00 levels.

USDCHF

The pair is still moving between support level at 0.8860 and resistance at 0.8920 which if success to surpassing it, the pair may likely to continue rise to 0.8980 – 0.9020 levels.

Support levels: 0.8860 – 0.8820.

USDCAD

The pair retreated to 1.2624 and succeeded in maintaining it and rebounding from it while it is trying to test the resistance at 1.2835, by which we target 1.2950. As for its decline and breaking the support level 1.2624, it may target 1.2525.

AUDUSD

The pair is still maintaining its uptrend and now it  moves in a correction with a sideways movement after failing to surpass 0.7820 resistance. The support level for the pair is 0.7640, which breaching it may continue to decline to 0.7550 But it is likely to test the resistance 0.7820 again, and surpassing it, we may target 0.7900 - 0.7950 levels.

Gold

Gold still maintains its stability above the support level 1817, but it faces the resistance 1864. It is important to cross it until we see rises, targeting 1900 levels, and then surpassing them, targeting $ 1930. But in the event of breaking the 1817 support, gold's declines may continue to $ 1764 levels.

Silver

Silver succeeds to stabilize above supports at 24.50, 25.00 and is still trading above them, so the metal will likely rise and test the resistance 27.40.

Support levels to watch are at 24.50, and if broken, silver might target 23.50.

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Oil

Oil rose and reached the target of $ 52.50, but retreated from it slightly, and is likely to retreat to test the support level of $ 49.00.

If it succeeds in surpassing $ 52.50, it will likely target $ 55.50 levels.

Dow Jones

Dow Jones index fell from the high of 31255 and established a support level at 30800.  The index is likely to test this top again, and in case it was able to breach these highs then the index might target 33000 points.

Support levels to watch are 30800-30400.

DAX

The DAX is in the process of a correction after reaching a historic high at 14094 levels. We expect the correction to continue to the support levels of 13600, which if broken, the correction may continue to 13000 level. Index resistance 14000 - 14094, then by surpassing it, we might target 14300 points

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