Technical analysis report

20 May 2021 03:39 PM

EURUSD

The pair succeeded in achieving its expected targets at 1.2240 and faced a correction, possibly extending to 1.2180 - 1.2125.

If the price breaches 1.2240, the rise may extend to 1.23/50.

GBPUSD

The pair succeeded in achieving the expected target yesterday at 1.41 support levels, and a breach of it may extend to 1.40 levels.

If the price stable above 1.410, the rise may extend to the resistance level 1.4220 / 40. It is important to overcome this level to extend the upside move towards 1.43-1.4370.

USDJPY

The pair is moving in a downward channel and bounced back from the upper boundary. The drop may extend to support levels at 109.00 - 108.80.

If the pair succeeds in surpassing the resistance at 109.33, the rise may extend to 109.50/70.

USDCHF

The pair tried to break resistance at 0.8985 and succeeded, so it will likely test the resistance at 0.9090. Bypassing it may extend the rise to 0.9160.

Support levels are 0.8985/60.

USDCAD

The pair retreated to the lower bound of the descending channel, which is moving inside at 1.205. By maintaining this level it is likely to test resistance at 1.22, and bypassing it may extend the rise to 1.2350.

Support levels for the pair are 1.2050-1.20.

AUDUSD

The pair tried to break the resistance at 0.7820, but it failed to do so, and it is possible to extend the drop to 0.7680, and further to 0.7590.

The resistance level is 0.7820. It is important to breach this level to continue rising to 0.7890.

Gold

Gold succeeded in rising to 1875, but it faced corrections that may extend to 1850-1840.

However, if resistance exceeds 1875, the rise may extend to 1900.

Silver

Silver is moving between the boundaries of a bullish channel, which represents important support. As long as it trades above it, the rise can extend to 29.00, the upper bound of the channel.

But if the support at 26.75 is broken, the drop may extend to 26.00.

Oil

Oil retreated from the resistance level of 66.50 to the levels of 64.00, which represents support. If it maintains it, we may see a rebound once again to test 66.50.

However, if the support at 63.00 is broken, the drop may extend to 62.00 - 60.60.

Dow Jones

The Dow Jones is now testing the support level 33700, and by maintaining this level, it will likely bounce back to test the resistance at 34000-34400.

But if the support at 33700 is broken, the drop may extend to 33300.

DAX

The German DAX has tested the resistance at 15500 several times, but it failed and retreated from it, so the drop may extend to 15000-14800.

If it succeeds in surpassing 15500, the rise may extend to 15700 - 15850.

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