Technical report 04-02-2022

Technical report 04-02-2022

4 Feb 2022 11:41 AM

EURUSD

The EUR/USD pair succeeded in achieving the expected targets from the latest analysis of 1.1366-1.1400, and approached the resistance level of 1.1480; by surpassing it, the rise may extend to 1.1600 levels.

Nonetheless, if the pair saw a decline from the current levels, the drop may extend to the levels of 1.1360-1.1280

GBPUSD

The British pound succeeded in breaching the resistance 1.3525, extending its rise to 1.3570. Further stability above this level, the current rally may extend to 1.3650.

However, if the pair drop below 1.3570, further declines might happen towards the support levels 1.3520, which, if broken, the decline may extend to 1.3440 levels.

USDJPY

The dollar-yen pair is still stable above 114.80, so the rise will likely extend to levels of 115.15, and follow-through beyond that level, the rally may extend to 115.60.

Support levels for the pair are 114.80- 114.50.

USDCHF

The dollar-franc pair is moving in a sideways range on the daily chart.

After testing the channel's upper boundary at 0.9350, the pair did retrace from it later. The current retracement is likely to extend and test to the 0.9090 support, the channel's lower boundary.

Resistance levels are 0.9270-0.9350.

USDCAD

The USD/CAD pair is moving within an ascending channel range where the pair succeeded in rebounding from the lower boundary at 1.2650. The current surge is likely to continue to 1.2790, and a breach of that level, the pair may rise towards 1.2850.

Support levels for the pair are 1.2650-1.2600.

AUDUSD

The Aussie dollar faced a resistance level around the 0.7160 level, and it tried more than once to breach it but failed to do so. Therefore the pair is likely to test the 0.7100 support level. A successful break could indicate a further drop towards the level of 0.7030.

Resistances levels are 0.7160 - 0.7215.

Gold

Gold is still trying to test the 1810 resistance. A successful attempt and stability beyond the $1810 may push the precious metal towards 1820-1830.

Support levels 1790 - 1780.

Silver

Silver is trying to surpass the resistance level at 22.80. Stability above that level, silver could extend its rise towards the level of 23.30.

Support levels 22.20-21.80.

WTI

Oil succeeded in surpassing the resistance level of $88.00 and continued its surge towards the $89.75. Further follow through could push the commodity towards $91.00-93.00.

Support levels for oil are 88.80 - 88.00.

Dow Jones

The Dow Jones index failed to surpass the resistance 35600 and retreated near the 35000 level. If the index continues its slide, the index could face next the 34600/34000 levels.

From the top side, a breach of the resistance 35600 and stability above it could see the index surge towards 36300 - 37000.

Dax 30

The German DAX index fell to the lower boundary of the 15000 cross channel but succeeded in rebounding from it and is now trading near the 15400 level. The rise is likely to extend to 16000-16300 levels.

Support levels 15200/15000.

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