Technical analysis report

28 Sep 2020 05:20 PM

EURUSD

This pair broke 1.1700 support and succeeded in achieving our target of 1.1600. However, it then rebounded slightly to 1.1660 levels.

If the rise continues to surpass 1.1750, we may target 1.1830 - 1.1850 resistance.

If it breaks the 1.1600 support, we would expect the decline to continue towards 1.1540 - 1.1500.

GBPUSD

This pair succeeded in rebounding from 1.2700 to 1.2900. We expect it to test the 1.30 level, after which the pair may target 1.32 levels.

In the event of a retreat, the pair may face support at 1.2700. If it breaks these levels, the decline may continue to 1.2500.

 

USDJPY

This pair is still above 105.00; if it stabilises above this level, we would expect it to test 106.50 resistance.

In the event of a fall below 105.00, the pair may target 104.00 again.

Gold

Gold broke the support level of $1900 and fell to our target of 1860. It then tried to break 1860, but failed and soon rose above it again. We therefore expect that if the price stabilises above here, it could rise to target 1900/1920.

If it stabilises below 1850 levels, we would expect the decline to continue to levels of 1795/1815.

 

WTI

Oil is still moving between 39.00 and 41.70 levels. If it overcame resistance at 41.71, it could target 43.50.

If the support level of 39.00 is broken, it may target 37.00.

 

Dow Jones

The Dow Jones is now trying to stabilise above 27500 levels, and if it it remains steady above here, it may target 28100 - 28200.

In the event of a decline below 27400, we would it to continue to 26600.

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