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technical analysis report

20 Jun 2022 03:22 PM

EURUSD

The pair moved within a descending channel, reaching the support levels of 1.0350 before bouncing back to 1.0515. the pair could possibly edge slightly higher towards 1.0650.

From the downside, if prices went south toward the support level of 1.0350 and defeated it, the bearish trend could extend to 1.0200.

GBPUSD

The British pound fell to the support level of 1.2170 before bouncing back higher. If the pair was able to maintain to stay above the mentioned level, the rise may extend to the level of 1.2350-1.2460.

Failure to do so could prompt sellers to retest the 1.2170 support. A successful attempt may push the price towards 1.2040 and then 1.2000 levels.

USDJPY

The pair fell from the resistance level of 135.50. failure to defeat the resistance level may push prices back towards 134.00 - 133.50.

However, if bulls could push the price higher and breach the resistance level of 135.50, the rise may extend to 1.3650 and then 1.3700.

USDCHF

The dollar-franc pair formed the support level of 0.9620, and it will likely bounce back slightly to the resistance level of 0.9720.

But if the support of 0.9620 is broken, the drop is likely to extend towards 0.9550.

Canadian dollar

The USD/CAD pair rebounded from the resistance level of 1.3075. if bulls tried to push the price higher again and could not break through this level, the pair could slide back towards the level

However, a successful attempt to defeat the resistance of 1.3075 may force further upside to extend to 1.3150.

Australian dollar

The AUD/USD pair fell from the 0.7050 resistance before stabilizing near it. A successful attempt to surpass this level may push the pair towards the 0.7150 and then 0.7250

But in case the pair fails to surpass the resistance of 0.7050, it may retreat to test the support levels of  0.6900-0.6850.

Gold

Gold price rebounded from the support level of $1833 and is currently staying within 1838-1840. If the price maintained to stay above 1833, bulls might try to push the metal towards testing the resistance 1857. A defeat of this level could force further prices higher towards 1880 dollars.


But if the 1833 support is broken, the drop will likely extend to the 1814 level.

Silver

Silver retreated from the resistance level at 22.00, and it is likely that if it is not exceeded, it may slide back to test the support level at 21.30.

But if the resistance is breached at 22.00, this may increase prices to 22.50.

WTI

WTI prices fell, breaking the support level of $110.00. if bears were able to push prices further lower, an immediate support awaits them at 107.00, followed by 105.00 and then 104.00.

The resistance levels 109.00/110.00, in case it is breached, may extend the rise to the level of 114.00 dollars.

Dow Jones

The Dow Jones index is moving within a descending channel range and is now trading near the support level of 30000, which represents the lower boundary of the descending. If the index broke through the 30000 mark, the bearish movement might extend to the level of 29500-29000.

Resistance levels 30500 - 31000.

German DAX

The German DAX index declined and broke the support of 13250 before bouncing back towards it. The mentioned support now acts as a new resistance; if the index fails to go through it, it may fall back to 12950 - 12800 levels.

The resistance levels for the indicator are 13250 - 13400.

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