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technical analysis report 22-12-2020

22 Dec 2020 01:31 PM


The EUR / USD pair formed a support level at 1.2129 levels, and it succeeded in rebounding from it yesterday, and we expect it to remain stable above it, possibly targeting the top of 1.2270 again, which by surpassing it, we may target 1.2350 levels.

But if we break the support 1.2129, we might target the next support at 1.2050.


The pair is moving on a daily basis between the boundaries of a rising channel, and yesterday it rebounded from the lower boundary at 1.3187 and succeeded in covering the bearish price gap formed yesterday near 1.3500 levels.

However, it quickly returned to 1.3360 levels.

Support levels for the pair in case of a decline 1.3190: 1.3200, which are the levels of the lower boundary of the ascending channel, and it is possible to rebound from it, rise and test on the upper boundary of the channel at 1.3650.

In the event of a break of the support 1.3190, the pair may retreat to test the next support at 1.3100 - 1.2900.


The dollar-yen pair is moving within a descending channel on the daily basis, the upper bound of which the resistance 105.00 is likely to reach if it breaks the resistance 104.00.

And the support levels for the pair are at 103.00, and then the stronger support at the lower boundary of the channel 102.50.


After the dollar franc pair succeeded in rising, surpassing the upper boundary of the descending channel, which it was moving inside at 0.8870 levels, and yesterday's high at 0.8918, retreating again to test the trend line that was breached, the support levels for the pair at 0.8830 are important to maintain until we see a rise Once again, the pair is for 0.8900 - 0.9000 levels.

If the support at 0.8830 is broken, the decline to 0.8700 will likely continue.


The Canadian dollar pair rebounded from the support levels of 1.2680, and it is now approaching the resistance levels of 1.2950: 1.3000, which is a strong resistance from which the pair is likely to bounce back to the downside and retreat to the level of 1.2680.

As for the resistance 1.30, we may target 1.3170 - 1.3200.


The Australian dollar pair retreated to the level of the upward trend line at 0.7460, which is a support area from which the pair may rebound to the upside and test levels of 0.7580 - 0.7600.

Support levels for the pair 0.7460 - 0.7370.


Gold is still maintaining the bullish trend line on the 4-hour chart, and we are likely to see a bullish rally again for the experiment on 1900/15, which is likely to cross this area, and we may target $ 1965 levels.

If gold falls below 1850 levels, it is likely that we will test 1820 and then break it, we may target $ 1764.


Silver rose to $ 27.36 but faced a strong retreat from it to $ 25.00.

Silver is still maintaining its bullish trend, and it is likely to rise again and test at 27.00, and then surpassing it, we might target $ 28.00.

Support levels 25.00 - 23.50.


Oil is moving inside a bullish channel on the 4-hour chart, and it retreated to test the lower boundary of it, but it still maintains the support of $ 46.00, so it is possible that we see it may rise to test the resistance 48.00 and then surpass it, targeting 49.80.

The support level 46.00, if broken, we may target the level of 45.00 - 44.00.

Dow Jones

The index is moving inside a sideways channel on the 4-hour time frame between the resistance level 30400 and the support level 29400.

It is now trading near the resistance level, and it is possible to retreat from it to test the lower boundary of the channel at the support level 29400, which if broken, we might target 29150-28900.

If the index succeeds in surpassing the resistance 30400, it is possible to continue rising to the levels of 31000-31500.

German DAX

The German DAX index fell below 13450 levels, so it is likely to fall back to the support level at 12900: 13000 points, an area that is important to maintain until we see it test again at levels 13450-13800.

In the event of a decline below 12900 levels, it is expected to target 12500-11800 levels.


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