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Technical analysis report

26 May 2021 03:33 PM

EURUSD

The pair failed to stabilize above the resistance 1.2240, so a correction may be seen for the pair to test the level of 1.2160, which if broken, may extend the drop to 1.2050.

Resistance of the pair 1.2240 / 50, by surpassing it, the pair may continue rising to 1.2300 / 50 levels

GBPUSD

The pair tried to surpass the resistance 1.4240, but failed and retreated from it, so it is possible to extend the drop to test 1.4100, which if broken, the drop may extend to 1.40 levels.

But if it maintains the support 1.41, it is likely to rise and test 1.4240.

USDJPY

The pair is moving in a cross channel, its upper boundary at the resistance level 109.00 and the lower boundary at the support levels of 108.60.

If it succeeds in surpassing 109.00, the rise may extend to 109.35 / 80 levels. But if the support 108.60 is broken, the drop may extend to 108.30.

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 succeeded in achieving its target at $1900, and the rise may extend to 1920/30 levels.

If the price fell, it may find support at the levels of 1900-1890.

Silver

Silver is moving between the boundaries of a bullish channel, which represents important support. If the price stable above it, the rise can extend to 29.00, the upper bound of the channel.

But if the support at 26.75 is broken, the drop may extend to 26.00.

Oil

Oil is still facing the resistance level of 66.50 and did not surpass it, so it is likely to drop to test the levels of 63.00 / 62.00.

If the price breaks the resistance 66.50, the rise may extend to 67.80.

Dow

The Dow Jones index succeeded in surpassing the resistance 34250, so it is possible to extend the rise 34700-35090.

The support level 34400, if broken, may extend the decline to 34180 -34000 - 33700.

DAX

The German DAX index succeeded in surpassing the resistance 15500, and it is possible that by its stability above it, the rise may extend to 15700-15850.

But if it falls below the 15000 level, the drop may extend to 15200-15000-14800 levels.

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