Hy Good Afternoon, Technical Analysis Update________________03/05/2021.
EUR / USD Technical Analysis
The EUR / USD pair has moved below the stability line. The local target has been set at 1.2020. Today the market is trading around it in a new stability range. We expect to move above 1.2077 to correct the level. After this work, we expect a decrease of 1.2000.
GBP/USD Technical Analysis
The pound is trading at a low of 1.3764 against the US dollar. After that, we expect the expansion threshold to increase. As it declines, it plans to continue its bearish wave at 1.3676. The goal is local.
USD/JPY Technical Analysis
Against the Japanese yen pair, the US dollar has set the growth threshold at the height of the growth wave and today, when it moves upwards, it suggests considering the possibility of rising to the level of 110.00. We will only consider it as an alternative to the expansion of development. The central scenario is expected to reach 108.44. The goal is first.
AUD/USD Technical Analysis
The Australian dollar continued its downward trend against the US dollar at 0.7700. Today, the market is creating a range of stability around it. After moving upwards, the correction potential will open at 0.7777. Going down, a decrease of 0.7600 level is possible.
Gold Technical Analysis
Gold corrected to the level of 1757.50. Today the market is trading above it in a range of stability. We expect the development structure to be ready by 1808.60. And with a break from this level, consider the continuation of the trend at 1856.00.
Technical Analysis by Shahzaib Munir, Thank You.