Technical analysis report

9 Mar 2021 03:26 PM

EURUSD

The pair fell and broke 1.1950 support, and now certain it tests it as a resistance level, and it is likely that it will decline to 1.1750-1.1600 levels.

The pair's resistance levels are 1.1950 - 1.2040.

GBPUSD

The pair is moving within up channel on the daily time frame, and has retreated from its lower boundary at 1.3760 / 1.38 levels, and by maintaining this support, it is likely to target 1.4000 - 1.4200 levels.

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

USDJPY

The pair succeeded in surpassing the upper bound of the ascending channel, surpassing the resistance 108.00, and rose to 109.20 levels, and it is likely to continue its rise to 109.60 / 85.

Support levels for the pair are 108.00 / 107.00.

USDCHF

The pair succeeded in achieving the target 0.9294 and approached the second target at 0.9387, but it faced some correction, which we expect may test the support 0.9294, and then if it is broken, it may retreat to 0.9200 levels.

In case it breaks the resistance 0.9387, it will likely target 0.9466.

USDCAD

The pair is testing the support at 1.2600, and it is possible that it will rebound from it to test the resistance at 1.2740, which, by surpassing it, may target the level of 1.2880.

The support levels for the pair are 1.2600, and if broken, it might fell to the next support at 1.2470.

AUDUSD

The pair is trying to test at 0.77, but is still trading below it, so it is likely to continue falling back to 0.7580 levels.

But if it rise above 0.77 again, it might test 0.7820.

Gold

Gold is moving between the boundaries of a descending channel, and it is now at the upper bound of it at 1703, and it is likely to retreat to support levels 1677, which breaching it may target levels of $ 1670.

Gold resistance 1714, if it succeeds in surpassing these levels, it may target the level of 1725-1740.

Silver

Silver is moving between support levels of $24.50 and resistance of $28.00. We expect it to test the support and if it continues, it will likely rebound to the upside and test the resistance at $28.00. But if it breaks the support at $24.50, it may continue its decline towards $21.87.

Oil

Oil rose to 67.84 levels, but it faced corrections from it, and it formed a good support at 64.40, and we expect that by maintaining this level, it will test 67.84 again, and by surpassing it, it may continue its rise to the levels of $ 70.

However, if 64.40 is broken, the correction may continue towards 63.70 - 61.30.

Dow Jones

The Dow Jones is moving inside a broadening pattern, and yesterday it succeeded in overcoming the resistance 31700, and rising to levels of 32150, and it is possible that it would target 32500.

The support level for the index is at 31700, and if it falls below this level, it will likely fall to the support levels 30500.

DAX

The DAX succeed to surpass the upper bound of the ascending triangle 14200 points, and rose to the levels of 14450, and it is possible that it will continue its rise to the levels of 15000 points.

Support levels for the index are 14200 - 13850.

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