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Technical analysis report

27 Apr 2021 02:24 PM

EURUSD

The pair succeeded in rising to 1.2115 resistance, but it retreated from it, as it considered as the upper bound of the small ascending channel inside a large technical pattern (descending wedge) and the price reached its upper bound.

Therefore, it is possible to retreat from the current levels of the support level 1.20, which breaching it might extend the downside move towards 1.1870.

But if the pair succeeds in surpassing the resistance 1.2125 , the bullish trend will likely extend to 1.2240.

GBPUSD

The pair faces the important resistance level 1.4015, and is now trading below it, and it has tried the support level 1.38 and succeeded in maintaining it and bouncing from it to 1.3930 levels, and the uptrend may extend to test the resistance 1.4015 again, which by surpassing it, the rise may extend to 1.4100 - 1.4180 levels.

But if the support 1.38 is broken, the drop may extend to 1.3670 levels.

USDJPY

The pair tries to stabilize above 108.30, and if it succeeds, the rise may extend to 109.30 levels. The support levels for the pair are 107.50, which if broken, is likely to extend the drop to 106.75 levels.

USDCHF

The pair retreated and reached the expected target at 0.9135, and rebounded from it a little, and it will likely that it will test the 0.9229 level.

But if the support 0.9135 is broken, the drop may extend to 0.9025.

USDCAD

The pair has recovered from the resistance at 1.2650, and is likely to fall to levels of 1.2400 - 1.2340.

The resistance of the pair 1.2650, if it succeeds in surpassing it, the rise may extend to 1.2740.

AUDUSD

The pair rose and surpassed the resistance 0.7760, and the rise may extend to 0.7815.

But if the pair retreated below 0.7760, the decline may extend to 0.77.

Gold

Gold has been moving in a downward channel beginning in August of last year when it hit a high of $2073.

Gold is now trading near the upper boundary of the channel, and it may retreat to support 1760, which breaching it may extend the downside move towards 1720-1700 levels.

But if gold succeeds in overcoming the $1800 resistance, the bullish trend will likely extend to $ 1820-1850 levels.

Silver

Silver is approaching the resistance level of 26.65, and if it succeeds in surpassing this level, the rise is likely to extend to the level of 28.25.

Current support levels 25.50-24.65.

Oil

Oil is moving between the boundaries of upchannel on the 4-hour chart. The price approached $60.00 levels, which represent the lower bound of the channel, which is a good support level for it, and oil is expected to rebound from it to the upside and try out at 62.50 levels, and bypassing it, the upside move might extend to 65.00 levels.

If the oil retreats and breaks the support level of 60.00, the downside move will likely extend to 58.00 / 57.00 levels.

Dow Jones

The Dow Jones is moving between the support level 33700 and the resistance 34250, which, by surpassing it, is likely to extend the rise to 34500/700 levels.

But if the index breaks the support 33700, the drop may extend to 33500 - 33300.

DAX

The German DAX retreated to the support levels 15150 and succeeded in rebounding from it, and it rose and is now near the resistance level 15300, which if it breaks it is likely to extend the rise to the levels of 15400/500.

But if the index breaks the support 15150, the drop may extend to 14950-14800.

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