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Technical analysis report

17 Mar 2021 03:58 PM

EURUSD

The pair succeeded in stabilizing above 1.19, and this may suggest the possibility that the price will test 1.1988, which surpassing it may continue its rise to 1.2070 levels.

However, if the support 1.19 is broken, this may suggest that the pair will rise towards 1.1780 / 1.18.

GBPUSD

The pair retreated to the support 1.38 and succeeded in rebounding from it, and by maintaining this support it is likely to head towards 1.4000 levels, which by surpassing it may increase the possibility of rising to 1.4200.

But if it falls below 1.3750 levels, it will likely continue falling to the next support 1.3560.

USDJPY

The pair approached the resistance level of 109.60 / 85, and it is possible to break this area to open the way for more bullishness to the upside and may head towards the level of 111.70.

But if the price is trading below the mentioned resistance, it will likely test the 108.00 support.

USDCHF

The pair retreated from the resistance level 0.9375 to the support 0.9229, and is still moving between them in a sideways range.

If the pair succeeds in rising above 0.9375, it may increase the possibility of a bullish move and prices will head towards 0.9466.

However, if the price fell below 0.9229, the possibility of a decline for the next support at 0.9135.

 

USDCAD

The pair fell sharply to the level of 1.2440. It is likely that the decline could extend to 1.2350.

The general trend of the pair is down, and the negative view will not change unless the price rises above the level of 1.2750, and any corrections to the upside may be a correction before resuming the decline again.

AUDUSD

The pair succeeded in rising above 0.77, so it is likely to test 0.7820, which surpassing it may head towards the resistance 79.00.

Support levels for the pair are 0.77 - 0.7620

Gold

Gold succeeded in bouncing from the level of $ 1700 and is now rise and test at the level of 1740, which by surpassing it, prices will likely head higher near 1760 levels.

However, if the price falls below the 1720 level, it may increase the possibility of a reversal and test the 1700 again.

Silver

Silver is moving between levels of support at 24.50 and resistance at $ 28.00. We expect it to maintain 24.50 as a support level, and it will likely rebound to the upside and test the resistance at 28.00.

However, if the support 24.50 is broken, the decline may continue towards 21.87.

Oil

Oil rose to 67.84 levels, but encountered corrections from them to the support level of $ 63.00, and by maintaining this level it is possible to test 67.84 again.

However, if it dips below 63.00 levels, it may continue its decline to $ 59.00.

Dow Jones

Today, the markets are awaiting the US Fed’s decision, which after its issuance is likely to see strong movements on the markets, especially the Dow Jones index, whose trading is confined to between the resistance levels of approximately 33000 and the support level of 32600.

If it succeeds in surpassing 33000 points, the upside move may extend to 33300/33500 levels.

If the index fell below 32600 levels, this may suggest an extension of the price correction to 32000 levels, and perhaps a break of them, the correction may extend to 31700.

DAX

The German DAX is still moving below the resistance 14600 points, which represents the upper boundary of an ascending triangle pattern, and by breaking this level, the bullish trend may extend to 15000-15200 points.

In the event that if the index fell below 14400 levels, it may cause the price to enter a correction stage to 14200 points.

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