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Daily Technical analysis for February 16, 2021

EURUSD

The euro is moving against the US dollar in an upward direction on the hourly interval, where the price targets 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 possible that the pair will fall to the level of 1.3800 before rising again.

Resistance: 1.4000 – 1.4100 – 1.4200

Support: 1.3600 – 1.3700 – 1.3800

Direction: Bullish

USDJPY

The USDJPY pair is moving in an upward direction on the hourly interval. the price is close to the resistance level of 105.60, and we are awaiting a breach to buy.

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. It is likely that it will target the 1800 price level during the coming hours.

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: 65.00 – 66.00 – 67.00

Support: 56.00 – 57.00 – 58.00

Trend: Bullish

Source: Technical analysis

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