Daily Technical Analysis 11/6/2024

Finance and economics explained simply
Daily Technical Analysis 11/6/2024

EUR/USD

EURUSD is falling this morning and since the opening of the markets, the pair opened the price on a bearish gap and fell to the second support area and is trading at $1.0767 by 0.3% and from a technical point of view: The pair has fallen since Friday's close at the first support area, and since the opening of the markets, it succeeded in reaching the second support area, and from the expected scenarios, the price is trying to return to test the second support area again in an attempt to break it, and the alternative scenario is a rebound with the aim of covering the gap and testing the first support area again.

News you may like the movement of the Eurodollar:

Second resistance area

1.09256 - 1.09378

First resistance area

1.08700 - 1.08843

fulcrum

1.08372

First support area

1.08017-1.0795

Second support area

1.07486 - 1.07422

GBP/USD

The British pound fell against the US dollar this morning and broke the uptrend and is currently testing the third resistance area and is currently trading at 1.2722 levels and from a technical point of view: The British pound has broken the uptrend and is testing the resistance zone and possible scenarios: Bounce and retest the uptrend area at 1.27621 levels, and if the test is successful, it continues to rise by targeting the four-hour resistance area, and in case of failure, it will return to fall to break the third resistance area again, and the alternative scenario is to continue falling from current prices by targeting the second resistance area

News you might want to move your husband:

Second resistance area

1.25423 - 1.25282

First resistance area

1.24750 - 1.24554

fulcrum

1.23827

First support area

1.23093 - 1.22931

Second support area

1.22089 - 1.21847

USD/JPY

The dollar is rising in the Asian session this morning and is currently trading at 157.33 levels and from a technical point of view: The dollar rose from the first resistance area to the second resistance area in an attempt to target the levels of 157.873, and the possible scenarios include reaching the levels of 157.873 and 158.034, and the alternative scenario is to fall by targeting the first resistance levels

News you may want to move the pair:

Second resistance area

156.341 - 156.260

First resistance area

155.406 - 155.343

fulcrum

154.394

First support area

152.846 - 155.741

Second support area

151.681 - 151.639

AUD/USD

The Aussie fell against the US dollar last week and fell this morning by 0.12% and is currently trading at 0.6602 from a technical point of view: Prices fell near the third resistance area until the first resistance area, and it seems that the price rebounded from the first resistance area in the first visit to these prices, and the possible scenarios are for prices to rise by targeting the second resistance levels as a retest, and the alternative scenario is to fall again by targeting the pivot point

News you may want to move the pair:

Second resistance area

0.66143 - 0.66231

First resistance area

0.65663 - 0.65783

fulcrum

0.65217

First support area

0.64541 - 0.64633

Second support area

0.60219 – 0.59604

USOIL

Oil prices rose yesterday and fell this morning Oil is down 0.58% and is currently trading at $77.76 per barrel. Technically, after the prices stabilized the first support area, they rose and reached the pivot point at 77.47, and the possible scenarios are for prices to rise by targeting the first resistance area and the alternative scenario is to fall by targeting the first support area as a retest

News you may want to move the pair:

Second resistance area

81.71 - 82.00

First resistance area

79.08 - 79.38

fulcrum

77.47

First support area

75.20 - 75.67

Second support area

73.13 - 73.62

XAU/USD

Gold closed last week with significant losses and fell with the European session this morning and is currently trading at $2305.51 per ounce. We note that the first support area was an area that caused the collapse of prices to reach the lowest price reached by gold at 2286.84 dollars this morning, and from the possible scenarios of rising prices as a kind of rebound that may reach the third support levels or rise to 2310 dollars, which it has already reached and fell again, and in the event of a rise, the recent high at 2312 must be broken, and the alternative scenario is to fall by targeting the support area on the four-hour time frame at 2272 dollars

News you may want to move the pair:

Second resistance area

2451.17 - 2446.43

First resistance area

2408 - 2413.10

fulcrum

2394.35

First support area

2377.35 - 2372.87

Second support area

2355.59 - 2350.21

Related Posts

( UAE )