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Technical analysis report

17 May 2021 04:14 PM

EURUSD

The pair faced strong support at 1.2125, and it is important to maintain it to continue the rise to 1.2180 / 1.22 levels.

But, if it breaks the support 1.2125, the drop may extend to 1.2075 levels.

GBPUSD

The pair succeeded in surpassing the resistance level 1.40, so the rise may extend to 1.4150-1.4230 levels.

But if the support 1.40 is broken, the drop at 1.3880 is likely to be extended.

USDJPY

The pair is moving in a descending channel and has rebounded from the lower boundary of it, and it is possible to extend the rise to 109.40, which by surpassing it may continue its rise to 109.70 levels.

Support levels for the pair are at the bottom of the descending channel at 109.00 levels.

USDCHF

The support level for the pair is 0.8985, if this level is broken, the decline may extend to 0.8930 - 0.8870.

But if it maintains the support 0.8985, it will likely test the resistance 0.9090, which surpassing it may extend the rise 0.9160.

USDCAD

The pair retreated to the lower bound of the descending channel, which is moving inside at 1.2050 levels, and by maintaining this level it is likely to test at 1.22, which bypassing it may extend the rise to 1.2350.

Support levels for the pair 1.2050-1.20.

AUDUSD

The pair succeeded in maintaining the support at 0.7680, and it is possible to extend the rise to test the resistance at 0.7820.

But if the support 0.7680 is broken, the drop may extend to 0.7590

Gold

Gold succeeded in overcoming the resistance 1842, so it is possible, by maintaining this level, to extend the rise to 1860-1865 levels.

But if 1840 is broken, the drop may extend to support levels 1808.

Silver

Silver is moving between the boundaries of a bullish channel, which represents important support for it, and as long as it trades above it, it is possible to extend the rise to levels of 28.00 - 28.50, which represents the upper bound of the channel.

But if the support 26.75 is broken, the drop may extend to 26.00 levels.

Oil

Oil retreated from the 66.50 resistance level, and the current decline may extend to 63.40 levels.

Oil resistance is 66.50-67.80.

Dow

The Dow Jones is now testing the support level 34180, and by maintaining this level, it may rebound to test the resistance 34400, and surpassing it may extend the rise to 34700 levels.

But if the support 34180 is broken, the drop may extend to 33980 - 33700.

DAX

The German DAX has tried more than once to surpass the resistance 15500, but it fails and retreats from it, so the drop may extend to 15200-15000.

But if it succeeds in surpassing 15500, the rise may extend to 15700 - 15850 levels.

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