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Technical analysis report

18 Aug 2020 02:52 PM

EURUSD

This pair approached the upper bound of the sideways channel near $1.1900 resistance, and we expect that if it breaches it, it may target 1.20-1.2050 levels.

However, in the event of a retreat from 1.19 levels, the pair may approach the lower bound of the sideways channel at 1.1700, and if it crosses this it may target 1.1600.

GBPUSD

This pair is moving in a sideways channel between $1.3200 resistance and 1.2980 support.

It is now trading near the upper bound of the sideways channel, and we expect it to decline and break the support of 1.2980, potentially reaching 1.2800.

If it surpasses 1.32 resistance, we may target 1.3350 - 1.3500.

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USDJPY

This pair retreated below 106.00 levels, and we expect it to continue its decline to support levels of 105.00 - 104.00.

The pair's resistance levels are 106.00-107.00.

Gold (XAUUSD)

Gold rose again above $2000 mark; if it stabilises above 1980, it may continue rising to its previous peak at 2074.

Support levels: 1980-1940.

WTI (USOILROLL)

Oil is facing support levels at $41.70. We expect it to maintain this level while targeting 43.50, followed by 45.00.

If it breaches the 41.70 support, oil may fall to 40.50-39.00.

Dow Jones

The Dow Jones formed a triangle pattern after the upside movement it achieved during the previous session, and if it surpasses the 28150 resistance level, the index could continue rising to 28500-29000 points.

Support levels for the index are 27600; if it breaks this, it may retreat to 27200 levels.

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