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Technical analysis report

27 Oct 2020 03:08 PM

EURUSD

The pair is still moving between the resistance 1.1880 and the support 1.1780. We expected if the price breached previous resistance, it will target 1.1950 / 1.2000.

If the price broke 1.1780 resistance, it may fell to 1.1730 / 1.1700 levels.

GBPUSD

This pair succeeded in rising to 1.3175 resistance in last week’s trading. However, it has since fallen to 1.30 support. By maintaining this support, we expect to see the pair rise to levels of 1.3120 - 1.3200.

If the price break 1.2990 support, we will target the support levels of 1.2920 / 1.2880.

USDJPY

This pair fell below its support level of 105.00, so we expect it to target 104.00 and then, if it breaks this level, 102.50.

The pair’s resistance levels are 105.00 – 106.00.

 

USDCHF

This pair faces resistance at 0.9090, which represents the upper bound of the descending channel on the four-hour chart. This may pressure it to retreat to 0.9030 - 0.9000 levels.

Conversely, if it succeeds in surpassing the 0.9100 resistance, it may continue rising towards 0.9150 levels.

USDCAD

This pair succeeded in surpassing its 1.3177 resistance level. If the price stabilises above it, we expect it to target 1.3250, then 1.3350.

The pair’s support levels are 1.3177 - 1.3100.

AUDUSD

This pair is still trading near the 0.7140 / 50 resistance level. We expect it to retreat from it and target 0.7000 support levels.

If it succeeds in surpassing the resistance at 0.7150, we will target 0.7200 - 0.7250 levels.

 

Gold

Gold faced strong resistance at $1930 last week. If the price stays below this point, it may retreat to 1880 – 1870 - 1850.

We expect it to turn to the upside if it breaks the 1930 resistance level, targeting 1970/1990.

 

WTI

Oil succeeded in achieving our targets at 39.50 - 39.00. We currently expect it to move between 38.50 and 39.50 levels.

If it succeeds in surpassing the resistance at 39.50, we may target 41.70 again. If the price breaks support at 38.50, we may target 37.00.

Dow Jones

The Dow Jones fell yesterday to 27650 support, broke it, and continued falling to 27360.

We expect the index to face more selling pressure and target 27150 points; if it breaks this level, we expect it to target the strongest support at 26500 points.

Resistance: 28000 - 28500.

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