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Daily Technical analysis for January 26, 2021

EURUSD

The Euro is moving against the US dollar in a downward direction on the hourly interval. The pair is targeting the level of 1.2215 during the coming hours.

Resistance levels: 1.2215 – 1.2300 – 1.2400

Support levels: 1.2100 – 1.1200 – 1.1900 

Trend: Bullish

GBPUSD

The GBPUSD pair is moving in an upward direction on the hourly interval The pair is targeting the 1.3800 price level, provided it stabilizes above the resistance level 1.3700.

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 touches the upper bound of the descending channel, and it is likely to fall in the coming hours.

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 is below the upper boundary of the rectangle pattern, and we are waiting for it to break above to buy.

Resistance: 1860-1900- 2000

Support: 1800- 1750- 1700

Trend: Sideways

Oil

Oil (Brent crude) is moving in an upward direction on the hourly interval. The price is moving in a rectangular pattern, we are waiting for the upper bound to be broken to buy or break the lower to sell.

Resistance: 57.50 – 58.00 – 59.00

Support: 53.00 – 52.00 – 51.00

Trend: Sideways

Source: Technical analysis

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