Daily Technical Analysis 6/24/2024

Finance and economics explained simply
Daily Technical Analysis 6/24/2024

EUR/USD

The Eurodollar is rising this morning and is trading at $1.0704, up 0.12% technically: The pair tested the recent low at 1.06675 and bounced back and is currently at the first support area, and the possible scenarios are to continue the rise by targeting the pivot point, and the alternative scenario is to fall using the second support area

News you may like the movement of the Eurodollar:

Second resistance area

1.07959 - 1.08017

First resistance area

1.07422 - 1.07486

fulcrum

1.07245

First support area

1.06980 - 1.07086

Second support area

1.06490 - 1.06592

GBP/USD

The British pound is rising against the US dollar this morning and is currently trading at 1.2650 from a technical point of view: The British pound broke the uptrend and is testing the resistance zone and possible scenarios: The pair rises and reaches the resistance area on the four-hour timeframe and we may see a retest of the area, and the alternative scenario is to fall by targeting the levels of the second resistance area

News you may want to move the pair:

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 and testing the highest high recorded this morning and is currently trading at 159.71 levels, technically speaking: The pair has fallen slightly since the test of the previous high and we are likely to see a pullback to 158.034 levels, and the alternative scenario is to target new prices up to 161.100

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 is up 0.05% against the dollar this morning and is currently trading at 0.6643, technically speaking: Prices rose and reached the second resistance zone, and among the possible scenarios is a retest of the third resistance zone, and the alternative scenario is a drop by targeting the second resistance zone, and a sideways movement has formed between the two zones

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 fall from the second resistance zone and this morning oil is down 0.11% and is currently trading at $80.61 per barrel. Technically, the price rebound from the second resistance area, targeting the first resistance area, and the possible scenarios are the continuation of the fall by targeting the first resistance area and the alternative scenario is the rise by targeting the 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 is rising with the Asian session this morning and is currently trading at $23233.10 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 The prices are considered in a transverse movement between the third support level and the potential support level and currently the prices are testing the third support area, stability and stability above these prices opens the way for a return to the second support area and the alternative scenario is a drop to the potential support area

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

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