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Daily Technical analysis for January 22, 2021

EURUSD

The Euro is moving against the US dollar in a downward direction on the hourly interval. We await the breach of the 1.2140 price level to buy.

Resistance levels: 1.2150 – 1.2200 – 1.2300

Support levels: 1.2000 – 1.1900 – 1.1800 

Trend: Bullish

GBPUSD

The GBPUSD pair is moving in an upward direction on the hourly interval. we await the breach of 1.3700 to buy.

Resistance: 1.3700 – 1.3800 – 1.3900

Support: 1.3450 – 1.3400 – 1.3300

Direction: Bullish

USDJPY

The USDJPY pair is moving in a downward direction on the hourly interval. The price has broken the lower boundary of the rectangle pattern, and we expect more drop to the level of 103.00.

Resistance 104.50 – 105.00 – 106.00

Support: 103.50 – 102.00 – 101.00

Trend: Bearish

Gold

Gold is moving in a sideway direction on the hourly interval. The price breached the 1860 level, and it is likely to continue the climb to the 1900 level.

Resistance: 1860-1900- 2000

Support: 1800- 1750- 1700

Trend: Sideways

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 or a breach to resistance level of $57.00.

Resistance: 57.50 – 58.00 – 59.00

Support: 53.00 – 52.00 – 51.00

Trend: Bullish

Source:Technical analysis

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