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Daily Technical analysis for February 22, 2021

EURUSD

The euro is moving against the US dollar in an upward direction on the hourly interval, where the pair is targeting the 1.2180 price during the coming hours.

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, and it is possible that the pair will continue the corrective decline until the level of 105.00 before rising again.

Resistance 106.50 – 107.00 – 108.00

Support: 103.50 – 102.00 – 101.00

Trend: Bullish

Gold

Gold is moving in a volatile direction on the hourly interval. The price is at a strong support level represented by the lower boundary of the descending classical channel, so we expect a corrective upside move for gold.

Resistance: 1860 – 1900 – 2000

Support: 1750 – 1700 – 1600

Trend: Bearish

Oil

Oil (Brent crude) is moving in a downward direction on the hourly interval. The price broke the classic bullish channel, and it is likely to fall within the coming hours.

Resistance: 65.00 – 66.00 – 67.00

Support: 56.00 – 57.00 – 58.00

Trend: Bearish

Source: Technical analysis

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