Technical analysis report

6 Jul 2020 05:00 PM

EUR/USD technical analysis

This pair is still moving sideways between the resistance level at 1.1350 and its support level at 1.1166. We expect that if it tests the support level and breaks it, we may target 1.1000 levels, but if the resistance exceeds 1.1350 we may target 1.1450 / 1.15.

GBP/USD technical analysis

This pair retreated from the resistance level of 1.2500 and we expect to move toward a support level at 1.2430. If it exceeds the resistance barrier of 1.2500, we may target 1.2550; if this is broken, we may target 1.2650. We anticipate a support level of 1.2430 and if this is broken, we may target 1.2360.

USD/JPY technical analysis

This pair tested the resistance level of 108.00, but retreated from it to the 107.30 support level and succeeded in maintaining above this point. We expect it to target the 108.00 level again and then, if this is bypassed, we may target 108.50 - 109.00. If the support level of 107.30 support is broken, we may target 106.70.

Gold technical analysis

Gold is still trading inside a bullish channel, and we expect that if it maintains the lower boundary and support at 1765, we may target 1790/1800 levels. If it breaks the support level of 1760, we expect the declines to continue to levels of 1750/1740.

Oil technical analysis

Oil succeeded in crossing the $40.50 resistance barrier and our expectations for it are to target 41.60 levels. If it crosses this line, it we may target $45.00, but if it retreats from the current levels to below the 40.50 barrier, we may retreat to experiment at 39.80 and then $39.00.

Dow Jones technical analysis

The Dow Jones is still trading above 24800 and inside the ascending channel so we expect it to continue rising to 27600/28000 levels. If the 24800 support is broken, the decline may continue to 23000 levels.


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