Daily Technical analysis for January 6, 2021
EURUSD
The EURUSD is moving in an upward direction on the hourly interval. the pair succeeded in ascending to its first target 1.2270, and in the event of a breakout and stability above it, the next target will be at 1.2400, and these targets will remain in place unless it breaks the 1.2100 support.
Resistance levels: 1.2200 – 1.2300 – 1.2500
Support levels: 1.2270 – 1.2200 – 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 1.3600, and we expect that in the case of maintaining trading above 1.3300, it will rise again to the level of 1.3700 and that the next target will be 1.3800.
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, where the pair failed for the first time in a month and a half to maintain the support of 103.00, and we expect that if the price stabilizes below 103.00, the pair will continue to decline, targeting the level of 102 then 100.00.
Resistance 103.00 – 103.90 -104.20
Support: 103.00 – 102.00 – 101.00
Trend: Bearish
Gold
Gold is moving in a sideway direction on the hourly interval. Gold has succeeded in rising towards all of its targets and is currently trading near the resistance of the ascending channel. We expect that it will succeed in stopping the rise temporarily before breaching it and targeting the upper limit represented in the level of 1980.
Resistance: 1950 – 1980 – 2000
Support: 1930–1900–1880
Trend: Bullish
Oil
Oil (Brent crude) is moving in an upward direction on the one-hour timeframe. Oil succeeded in rising, achieving its first target at $ 52.00, and we expect it to continue rising, targeting the level of $54.00, and if it breaks down, the next target will be at $56.00 and these targets remain as long as it trades above $48.00.
Resistance: 54.00- 56.00- 58.00
Support: 52.00 – 50.00 – 48.00
Trend: Bullish
Source: Technical analysis
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