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Daily Technical analysis for February 12, 2021

EURUSD

The euro is moving against the US dollar in an upward direction on the hourly interval. The price has breached the descending trend line and is likely to rise to the level of 1.2200.

Resistance levels: 1.2200 – 1.2300 – 1.2400

Support levels: 1.1900 – 1.1800 – 1.1700 

Trend: Bullish

GBPUSD

The GBPUSD pair is moving in an upward direction on the hourly interval. It is likely that it will target 1.3900 price.

Resistance: 1.3900 – 1.4000 – 1.4100

Support: 1.3500 – 1.3600 – 1.3700

Direction: Bullish

USDJPY

The USDJPY pair is moving in an upward direction on the hourly interval. The price is close to the support level of 104.40, it is preferable to buy from these levels.

Resistance 105.00 – 106.00 – 107.00

Support: 103.50 – 102.00 – 101.00

Trend: Bullish

Gold

Gold is moving in a volatile direction on the hourly interval. The price touches the descending trend line, and it is likely to drop to the 1800 price level, yet the analysis fails if it breaches the 1850 price level.

Resistance: 1860 – 1900 – 2000

Support: 1750 – 1700 – 1600

Trend: Bearish

Oil

Oil (Brent crude) is moving in a volatile direction on the hourly interval. It is preferable to wait for oil to correct until the price level of $60.00 per barrel to buy.

Resistance: 62.00 – 63.00 – 64.00

Support: 56.00 – 57.00 – 58.00

Trend: Bullish

Source: technical analysis

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