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Daily Technical analysis for January 13, 2021

EURUSD

The EURUSD is moving in an upward direction on the hourly interval. The pair succeeded in ascending from the support level of 1.2100, breaching the resistance level of 1.2200, and we expect it to continue rising in the short term, provided that the support level of 1.2100 is not broken.

Resistance levels: 1.2270 – 1.2400 – 1.2500

Support levels: 1.2200 – 1.2100 – 1.2100 

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 1.3700. We expect it to continue rising towards its next target of 1.3800, then 1.4000, as long as it trades above 1.3400.

Resistance: 1.3700 – 1.3800 – 1.4000

Support: 1.3600 – 1.3500 – 1.3400

Direction: Bullish

USDJPY

The USDJPY pair is moving in a downward on the hourly interval. The pair succeeded in entering the sideways channel again, after approaching the first descending target, and we expect it to continue moving between the 103.00 level and the 104.75 level, as long as it trades above 102.50.

Resistance 104.20 – 104.75 -105.50

Support: 103.90 – 103.00 – 102.00

Trend: Sideways

Gold

Gold is moving in a sideway direction on the hourly interval. Gold rose, achieving its first corrective target at the level of $1860, and we expect it to move in the short term in a sideways movement between the level of $1890 and the level of $1820.

Resistance: 1860- 1880- 1900

Support: 1830- 1800- 1780

Trend: Bearish

Oil

Oil (Brent crude) is moving in an upward direction on the one-hour timeframe. Oil fell in limited profit-taking operations and then resumed its rise, breaching its main resistance of $ 56.00, but we still see that it is likely to fall from the levels of 58.00 -60.00 before resuming rise again.

Resistance: 58.00 – 60.00– 63.00

Support: 56.00 – 54.00 – 52.00

Trend: Bullish

Source: Technical analysis

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