Technical analysis report

18 Mar 2021 04:10 PM

EURUSD

The pair succeeded in achieving the target of 1.1988, but it failed in reaching above that level and retreated from later on. It is likely that it will test the 1.19 support, which, by breaking it, the pair may drop towards 1.1780. But if it succeeds in surpassing 1.1988, it may continue its rise to 1.2070 levels.

GBPUSD

The pair succeeded in reaching 1.4000 and surpassing it would favor an extension of the rise to 1.4200.

But if the price is below 1.40, it will likely drop to test the 1.3800 support.

USDJPY

The pair approached the resistance level of 109.60 / 85, and it is possible to break this area to open the way for more bullish path to the upside towards the level of 111.70.

But if the price is trading below the mentioned resistance, it will likely test the 108.00 support.

USDCHF

The pair retreated from the resistance level 0.9375 to the support 0.9229 and is still moving between them in a sideways range.

If the pair succeeds in rising above 0.9375, it may increase the possibility of a bullish move and prices will head towards 0.9466.

However, if the price fell below 0.9229, it may fall to the next support at 0.9135.

 

USDCAD

The pair fell sharply to the level of 1.2364. It is likely that it will make a correction and test 1.2500-1.2600 levels.

But the general trend of the pair is bearish, and the negative view will not change except in the case of the price rising above the level of 1.2750, and any corrections to the upside may be a correction before resuming the decline again.

AUDUSD

The pair succeeded in rising above 0.77, so it is likely to test 0.7820, which surpassing it may head towards the resistance 79.00.

Support levels for the pair are 0.77 - 0.7620

Gold

Gold succeeded in rising yesterday above the resistance $ 1740, and recorded the level of 1755, but quickly returned to fall below the levels of 1740 again.

Gold may face support at levels of 1730 to 1723, but it is important to hold above these levels, to drive further upside, targeting 1760 - 1780.

But if gold falls below 1700 levels, this suggests an extension of the downside trend to 1660.

Silver

Silver is moving between levels of support at 24.50 and resistance at $ 28.00. We expect it to maintain 24.50 as a support level, and it will likely rebound to the upside and test the resistance at 28.00.

However, if the support 24.50 is broken, the decline may continue towards 21.87.

Oil

Oil rose to 67.84 levels, but encountered corrections from them to the support level of $ 63.00, and by maintaining this level it is possible to test 67.84 again.

However, if it dips below 63.00 levels, it may continue its decline to $ 59.00.

Dow Jones

Yesterday, the Dow Jones index succeeded in surpassing the level of 33000 points with the Fed's expectations that the US economy will grow by 6.5% and the index will remain above 33000 levels. This suggests an extension of the uptrend to 33300/500 levels.

If the index fell below 33000 levels, this may suggest an extension of the correction to 32600, which if broken, the price may head towards 32000 levels.

DAX

The German DAX is still moving below the resistance 14600 points, which represents the upper boundary of an ascending triangle pattern, and by breaking this level, the bullish trend may extend to 15000-15200 points.

If the index fell below 14400 levels, it may cause the price to enter a correction stage to 14200 points.

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