Gold price achieves the extended negative targets – Analysis - 26-09-2022
Gold price opened today with additional strong decline to succeed touching our waited extended target at 1630.00, and continues to move inside the bearish channel that has additional negative targets that reach 1615.00, to continue suggesting the bearish trend for the upcoming period, supported by the negative pressure formed by the EMA50.
On the other hand, we should note that breaching 1664.00 will stop the current negative pressure and lead the price to start correctional bullish wave and cover some losses that it suffered recently.
The expected trading range for today is between 1615.00 support and 1655.00 resistance.
The expected trend for today: Bearish
The USDCAD approaches the extended target – Analysis - 26-09-2022
The USDCAD pair rallied upwards strongly to manage to breach 1.3510 level and reinforce the expectations of continuing the bullish trend domination, approaching our waited extended target at 1.3650, noting that breaching this level will push the price to achieve more positive targets that reach 1.3715.
Therefore, we will continue to suggest the bullish trend for the upcoming period, noting that breaking 1.3555 will press on the price to decline and test the bullish channel’s support line that appears on the chart around 1.3475 before any new attempt to rise.
The expected trading range for today is between 1.3555 support and 1.3700 resistance.
The expected trend for today: Bullish
The USDJPY attempts to return to the channel – Analysis - 26-09-2022
The USDJPY pair shows more bullish bias by today’s open, to attempt to return to the bullish channel that appears on the chart, reinforcing the expectations of regaining the main bullish trend, on its way to achieve positive targets that start at 145.00 followed by 145.90.
Therefore, we are waiting for more expected rise in the upcoming sessions, supported by moving above the EMA50, noting that breaking 142.55 will stop the positive scenario and press on the price to achieve new bearish correction.
The expected trading range for today is between 143.20 support and 145.00 resistance
The expected trend for today: Bullish
The GBPUSD suffers historical losses - Analysis - 26-09-2022
The British Pound collapses against the US dollar by today’s open, to lose near 8% of its value until now, suffering historical losses and heads towards achieving potential decline in the upcoming period, affected by heading towards the US dollar as a safe haven among the current economic volatility, and we expect to resume the bearish bias to target 1.0280 followed by 1.0200 areas as next main stations.
Therefore, the negative pressure will remain valid in the upcoming sessions, noting that breaching 1.0635 will stop the current negative pressure and push the price to start bullish correction on the intraday basis.
The expected trading range for today is between 1.0400 support and 1.0635 resistance.
The expected trend for today: Bearish