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Technical analysis report

5 May 2021 03:00 PM

EURUSD

The pair retreated to the support level 1.20, and a breach of this level is likely to extend the downside movement towards 1.1940 - 1.1860 levels.

However, if the pair maintains the support 1.20, it will likely bounce back to test the levels of 1.2060 - 1.2140.

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 is moving between the boundaries of the ascending channel, which represents 109.15 support for it, and as long as it maintains it, it is likely to rise to 109.50 levels, which by surpassing it, the rise could extend to 110.20 levels.

As for the breach of support 109, it is possible to extend the drop to 108.45.

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 retreated and approached the lower bound of the descending channel, which it is moving inside at 1.2250 levels, and by maintaining this level, it may rebound from it to test the levels of 1.2350, which by surpassing it, the rise may extend 1.2470.

But if we break the support 1.2250, the decline may extend to 1.220.

AUDUSD

The pair rose and is now testing the resistance at 0.7740, and if it succeeds in surpassing it, the rise will likely extend to 0.7770 - 0.7710 levels.

But it may rebound from the resistance it is currently moving at to test 0.77 levels, and breaking it may extend the drop to 0.7660.

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 moving between the boundaries of the up-channel, and the level of 25.70 represents important support for it, and as long as it trades above it, the rise may extend to 27.00-28.00.

But if the support at 25.70 is broken, the drop may extend to 24.60 levels

Oil

Oil succeeded in crossing the upper boundary of the ascending channel, so it is possible that with its stability above 66.00, the rise may extend to 67.80 levels.

But if the support 66.00 is broken, it may fall to 64.80.

DowJones

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 index fell below the support levels 15070 and extended the decline to 14800 levels, but rebounded from it, and it is now testing the 15070 levels as resistance. If it succeeds in rising above, the rise may extend to 15300 levels.

But if it does not succeed in surpassing the 15070 levels, it may rebound to test the 15800 levels again.

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