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Technical analysis report

18 Oct 2022 02:45 PM

Gold

Gold is moving between the two borders of a descending triangle and is likely to decline to test the lower boundary of it at the level of 1640.00, and if broken, the decline may extend to the level of 1620.00.

But if the resistance level is exceeded 1661.00, the rise may rebound to test the stronger resistance of 1670.00, which by surpassing it may contribute to extending the rise to 1684.00.

Silver

Silver faces the resistance level of 18.90, and it is likely that if it is not exceeded, it may retreat from it to test the support level of 18.50, by breaking it, the decline may extend to the level of 18.00 dollars.

But if the resistance level of 18.90 is exceeded and prices remain above it, the rise is likely to extend to the level of 19.35.

EURUSD

The pair succeeded in achieving its expected target yesterday at 0.9850, but it retreated slightly from it, and it is possible that if the support 0.9820 is broken, the decline may extend to 0.9700 levels.

Resistance levels for the pair are 0.9875-0.9900.

GBPUSD

The pair fell to test the 1.1260 support level, and it is likely that it might rebound to the upside to test the 1.1450-1.1500 resistance level.

But in the event of a decline below the support level at 1.1260, the decline may extend to the next support at 1.1150.

USDJPY

 

A strong bullish trend for the pair is likely to extend the rise to levels of 149.50-150.00.

The support level for the pair is around 148.30, and it is likely that stability below this level may extend the decline to 147.50.

USOil

Oil is moving between the resistance level 86.00 and the support level 84.50. If the support 84.50 is broken, the decline may extend to levels 82.50 - 82.00.

The resistance level of 84.50, in case it is breached, may extend to the level of 86.00 dollars.

DowJones

The index succeeded in surpassing the resistance level of 30400 points, and it is possible that it will remain above the level of 31.000-31200 points.

Support levels for the indicator 30400-30000.

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