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Daily Technical analysis for January 19, 2021

EURUSD

The Euro is moving against the US dollar in a downward direction on the hourly interval, where the pair retests the bearish trend line, and we expect more decline during the coming hours.

Resistance levels: 1.2150 – 1.2200 – 1.2300

Support levels: 1.2000 – 1.1900 – 1.1800 

Trend: Bearish

GBPUSD

The GBPUSD pair is moving in an upward direction on the hourly interval. The price touches the ascending trend line, we expect further upward movement until the price level 1.3700.

Resistance: 1.3700 – 1.3800 – 1.3900

Support: 1.3450 – 1.3400 – 1.3300

Direction: Bullish

USDJPY

The USDJPY pair is showing volatility on the hourly interval. We are waiting for a break or breach of the upper or lower boundary of the rectangle pattern to sell or buy.

Resistance 104.50 – 105.00 – 106.00

Support: 103.50 – 102.00 – 101.00

Trend: Sideways

Gold

Gold is moving in a sideway direction on the hourly interval. We are waiting for the breach of 1800 or the 1860 price level to sell.

Resistance: 1860-1900- 2000

Support: 1800- 1750- 1700

Trend: Bearish

Oil

Oil (Brent crude) is moving in an upward direction on the hourly interval. We await the price correction to the price level of $ 53.00 a barrel to buy.

Resistance: 57.50 – 58.00 – 59.00

Support: 53.00 – 52.00 – 51.00

Trend: Bullish

Source: Technical analysis

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