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Technical analysis report

6 Jul 2021 04:20 PM

EURUSD

The pair breached out the 1.1845 support, but went back above it again, so the current rise is likely to extend to 1.1910-1.1975 levels.

But if the price fell below 1.1845, the decline may extend to 1.1800-1.1780 levels.

GBPUSD

The pair is moving within a descending channel range and now trying to surpass the upper boundary. If the pair cross the 1.3875 it will likely extend its current upside and test the 1.4000.

But if it falls below 1.38, it will likely drop to 1.3700-1.3650 levels.

USDJPY

The pair is moving between the two borders of an ascending channel, and it achieved the expected target set on the latest analysis at 111.30, the upper boundary of the channel, and then retraced a little. The pair will likely test 110.25, which represents the lower boundary of the channel.

But if the pair succeeds in surpassing the resistance 111.50, the rise is likely to extend to levels of 112.00.

USDCHF

After the pair succeeded in surpassing the 0.9240 resistance, it fell below it again, so the decline is likely to extend to the support level of 0.9150, which if broken, the pair may continue to slide towards 0.9090 levels.

But if prices remain above 0.9240, the rise is expected to extend to 0.9300 levels.

USDCAD

The pair retreated from the descending trend line at the level of 1.2485 and found a support level at 1.2245. if the pair was able to maintain this level it may test the 1.2485 resistance, which by surpassing the pair may extend the rise to 1.2550 - 1.2640 levels.

But if the price breaks through the 1.2245 support, the drop will likely continue towards the level of 1.22 and then 1.2130.

AUDUSD

The pair succeeded in surpassing the upper boundary of the descending channel at 0.7540, and extended its ascent to 0.7598 levels, and is likely to extend to 0.7616 levels, which by surpassing it may target 0.7700.

Possibly, if it falls from this level, it will fall back to 0.7525 -0.7475 levels.

Gold

Gold succeeded in rising and surpassing the resistance 1795, which represents the upper boundary of the horizontal channel, and the rise is likely to extend to 1815-1825 levels.

If it falls below 1795, the decline is expected to extend to 1780/60 levels.

Silver

Silver bounced from the ascending trend line support at $25.50 and it is likely that if prices are trading above this level, silver will re-rise and test at 27.50-29.00 levels.

But in case the 25.00 support is broken, the drop may extend to 23.80 levels

Oil

Oil is still moving within an ascending channel and the current rise is likely to extend to 76.00-77.50 levels.

The support levels are 73.90 and it is possible to break it, the decline may extend the lower boundary of the 72.50 channel...

Dow

The Dow Jones is facing strong resistance at 34800 and it is likely that by not surpassing it, it will return to the downside and correct for 34500/400 levels.

But by exceeding 34800, the rise is likely to extend to levels of 35100, which represents the highest historical peak for the index.

DAX

The German DAX is facing resistance at 15750/800 levels, which it tested more than once, but is regressing from it, so it is possible that 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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