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Technical analysis report

7 Jun 2021 04:40 PM

EURUSD

The pair is still trading below 1.2250 levels, so it may remain in a correction until it surpasses it to complete its rise to 1.2350 levels.

The pair's current resistance is 1.2210/50 levels.

Support levels on the downside are 1.2105 - 1.2048.

GBPUSD

The pair is moving between the borders of an ascending channel and represents the support for it at the level of 1.4100, and if it is above this level, it is likely to test the resistance 1.4240, which by surpassing it may extend the rise to 1.4370 levels.

If the pair fell below 1.41, the decline is expected to extend to levels of 1.40.

USDJPY

The pair is moving between the two borders of an ascending channel and has retraced from its upper border, and the decline is likely to extend to the support level 109.00.

If it maintains the support of 109.00, it is expected to rebound from it to rise to levels 109.70 - 110.40.

But if the pair breaks the support 109.00, the decline will likely extend to 108.50/30 levels.

USDCHF

The support level for the pair is 0.8930, if it succeeds in maintaining it, it will likely rebound to test 0.9030/50, which by surpassing it may contribute to extending the rise to 0.9100 - 0.9160 levels.

Support levels at 0.8930, and if broken, the drop may extend to 0.8870.

USDCAD

The pair retreated and established a support level at 1.2011, so it is possible that, by maintaining the level, it will rebound to the top to test the resistance level of 1.2140-1.22.

However, if the pair breaks the support 1.2011, the drop of 1.1900 will likely be extended.

AUDUSD

The pair tried to break the resistance at 0.7820, but it failed to do so, and it is possible to extend the drop to 0.7680, and further to 0.7590.

The resistance level is 0.7820. It is important to breach this level to continue rising to 0.7890.

Gold

Gold broke the support level in 1890 and fell to 1855 levels and is now testing 1890 again. Therefore, it is possible that if it trades below 1890 levels, the decline may extend to 1865-1855 levels.

But in case the price returns to rise above 1890, it may contribute to the extension of the rise to the levels of 1910/1916.

Silver

Silver formed important support for it at levels of 27.30, and if it trades above it, it is possible to extend the rise to levels of 28.65, which by surpassing it may extend the rise to 29.80.

But if the 27.00 support is broken, the drop may extend to 26.00/70 levels.

Oil

Oil succeeded in surpassing the resistance 67.80, so it is possible to extend the rise to levels 70.00 - 72.00.

Support levels are 67.80-66.50.

Dow Jones

The Dow Jones is facing resistance at 34850, and by surpassing it, it is likely to extend the rise to 35100 levels.

But if it trades below it, it is likely to face a correction to the support levels 34650-34400.

DAX

The German DAX index succeeded in surpassing the resistance 15600 and achieved its highest price today at 15732 levels, and the rise is likely to extend to 15900/16000 levels.

Support levels for the index in case of correction are at 15600-15500.

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