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Daily Technical Report 23-5-2024

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EURUSD

EURUSD

EUR/USD pair has fallen from the resistance area around 1.0860. Prices are expected to target the support areas around 1.0740 in the upcoming trading sessions. This scenario will be invalidated if the resistance area mentioned is breached again.

Support

1.0810 1.0765 1.0740
Resistance 1.0845 1.0860

1.0890

GBPUSD

GBPUSD

Prices have breached the significant resistance areas around 1.2700 to the upside. It is expected that the next target will be the 1.2800 area. This scenario will be invalidated if the 1.2700 area is broken again to the downside.

Support

1.2690 1.2625 1.2580
Resistance 1.2725 1.2790

1.2825

USDJPY

USDJPY

Prices have broken through the resistance area in the 156 – 156.50 range to the upside, targeting the 158 area. This scenario will be invalidated if the 156 level is broken again to the downside.

Support

156 155.25 153.7
Resistance 156.90 158

GOLD

GOLD

Gold is moving in an upward trend in the medium term. It has broken the 2400 level and prices have reached near the support areas of 2370. These areas are expected to limit the pace of the decline.

Support

2350 2325 2275
Resistance 2400 2435

2450

USOIL

USOIL

Oil continued its downward trend, breaking below the 77.50 level. Prices are likely to target the support areas at 76 in the upcoming trades. This scenario is negated if the 77.50 level is breached upwards.

Support

76.50 76.15 75.50
Resistance 77.50 79.50

80.5

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