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Technical analysis report

17 Nov 2020 03:51 PM

EURUSD

This pair is moving between 1.1900 levels as a resistance level and 1.1600 - a good support level.

We expect a break of this resistance level to target 1.2000 - 1.2150.

If the price retreats from current levels, it may target support at 1.1600; if it breaches this, the decline may continue to 1.1450 levels.

GBPUSD

The pair faced resistance at the upper bound of the rising channel at 1.3300 levels and retreated from it to 1.3100 levels. We expect if the pair is below the mentioned resistance level, the correction may continue to the support levels 1.3070 - 1.2950.

Resistance levels for the pair are at 1.3300, after which we would target 1.3400 - 1.3500.

USDJPY

This pair faces resistance at 105.50; we expect it to retreat to the support levels of 104.00, then 103.00.

If it succeeds in surpassing the resistance at 105.50, it might target 106.00 - 107.00.

USDCHF

This pair is still moving between 0.9000 support and 0.9200 resistance. We expect any break of the resistance to target 0.9300 levels.

If the price retreats from current levels, it may target the support 0.9000; if it breaks these, we would expect it to target 0.8800.

USDCAD

This pair broke 1.3100 support, and we expect it to target 1.2950. Resistance in case of the upside is 1.3100; if it surpasses this, we would target 1.3177.

AUDUSD

This pair succeeded in rising near the resistance level 0.7340. If it succeeds in surpassing this level, we would expect the pair to target 0.7412.

If the price falls from the current levels, it may retreat to test the support levels at 0.7240 / 0.7220.

Gold

Gold succeeded in maintaining $1848 and we expect it to target 1900 - 1970.

If it crosses 1848, we would expect it to target 1790-1750.

 

Silver

Silver is moving in a sideways channel inclined to ascend. It has a resistance level of $26.00, and the price may face upward pressure.

If it reaches 23.50, 23.00 is a good support level.

You can trade between these levels by buying on support and selling at resistance until breaking out of this channel and determining the next expected direction.

 

Oil

Oil succeeded in surpassing 41.50 resistance and rose to 43.00 levels, but it has now retreated to retest 41.50 levels.

We expect to maintain this level, targeting 43.80, and then surpassing it to target 48.50.

If the price falls below the 41.50 support level, we may target 39.50-37.00

Dow Jones

The Dow Jones attempted to surpass the resistance at 29600 and succeeded in doing so, but it could not stabilize above it. Sellers soon intervened to drop the index below 29600 again.

Currently, our expectations are that if it trades below 29600 levels, it is qualified to retreat to support levels 29000 - 28600.

If it succeeds in holding the highest levels at 29600, we may target 30,000 - 31,500 points.

DAX

The DAX faces strong resistance at 13300/13400 levels, which it tried and failed to surpass more than once. If if it continues trading below this level, it may target support levels at 12300 -11600.

If it succeeds in overcoming the resistance at 13400, we may target 13800 - 14000 points.

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