Daily Technical analysis for February 23, 2021
EURUSD
The euro is moving against the US dollar in an upward direction on the hourly interval, where the pair is targeting the 1.2200 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, as the pair has reached the lower boundary of the ascending classical channel, and it is likely to rise in the coming hours.
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 close to the upper bound of the descending classical channel, and it is likely to fall within the next hours.
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 touches $65.00 a barrel, which is a resistance level, and we are waiting for stability above it 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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