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24Dec

Daily Technical analysis for December 24, 2020

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EURUSD

The EURUSD is moving in an upward direction on the hourly interval. The pair succeeded in rising from 1.2100 support, testing the 1.2250 level. We expect it to continue rising, targeting 1.2270, and in the event of a breakout, the next target will be at 1.2400, where these targets will remain valid unless it breaks the support at 1.2100.

Resistance levels: 1.2200 – 1.2300 – 1.2500

Support levels: 1.2100 – 1.2000 – 1.1850 

Trend: Bullish

GBPUSD

The GBPUSD pair is moving in an upward direction on the hourly interval. The pair succeeded in ascending to its first target at 1.3500, and we expect that in the case of maintaining trading above 1.3300, it will rise again to the level of 1.3500 and that the next target will be 1.3600.

Resistance 1.3500 – 1.3600 – 1.3700

Support: 1.3400 – 1.3200 – 1.3000

Direction: Bullish

USDJPY

The USDJPY pair is moving upwardly on the hourly interval, as the pair traded near the support area for the sideways trend formed between 103.00 and 103.50. We expect that in the event of continued trading above this area, it will target resistance 104.20, then 104.80.

Resistance 103.90 – 104.20 -104.70

Support: 103.50 – 103.00 – 102.00

Trend: Sideways

Gold

Gold is moving in a sideway direction on the hourly interval. Gold is trading within an ascending channel and is now at the level of support for it, and we expect that if trading continues above this level of 1860, it will target 1880 then 1900.

Resistance: 1880- 1900- 1920

Support 1840- 1820- 1800

Trend: Bullish

Oil

Oil (Brent crude) is moving in an upward direction on the one-hour timeframe. Oil has succeeded in rising from the support level of $49 and achieved its first target. We expect it to continue rising towards $52 and then $54, provided that $47.00 is not breached.

Resistance 52.00 – 54.00 – 56.00

Support: 50.00 – 48.00 – 47.00

Trend: Bullish

Source: Technical analysis

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