Gold price attemps to breach – Analysis - 14-02-2020
Gold price continues to fluctuate around 1575.90 level, and we still waiting to breach this level to confirm extending the bullish wave on the intraday and short term basis, as our next target is located at 1611.20.
Stochastic current negativity interprets the reasons of the difficulty of achieving the required breach, waiting to get enough positive momentum to push the price to surpass 1575.90 and continue the expected rise, reminding you that the continuation of the bullish wave requires holding above 1554.10.
The expected trading range for today is between 1560.00 support and 1595.00 resistance.
The expected trend for today: Bullish
The USDCAD loses momentum – Analysis - 14-02-2020
The USDCAD pair provided slight positive trades yesterday but it hit the EMA50 that forms good intraday resistance that pushes the price to decline again, accompanied by stochastic reach to the overbought areas, which supports the chances of resuming the correctional bearish trend, which its targets begin by surpassing 1.3240 to head towards .3187 as a next station.
Therefore, we will continue to suggest the bearish trend for the upcoming period unless breaching 1.3270 – 1.3285 levels and holding above them.
The expected trading range for today is between 1.3185 support and 1.3300 resistance.
The expected trend for today: Bearish
The USDJPY gets a positive signal – Analysis - 14-02-2020
The USDJPY pair shows sideways and tight trading, settling around the EMA50, noticing that stochastic provides positive overlapping signal now, waiting to motivate the price to resume the expected bullish trend for the upcoming period, which targets 110.50 level as a next station.
Therefore, we will keep our positive overview conditioned by the price stability above 109.33.
The expected trading range for today is between 109.30 support and 110.50 resistance
The expected trend for today: Bullish
The GBPUSD breaches the resistance – Analysis - 14-02-2020
The GBPUSD pair breached 1.2975 level clearly and settled above it, to activate the positive scenario on the intraday basis, on its way to test 1.3150 level initially.
Therefore, the bullish bias will be valid for the upcoming period, noting that surpassing the targeted level will push the price to 1.3300 as a next main station, while the expected rise will remain valid unless breaking 1.2920 level and holding below it.
The expected trading range for today is between 1.2975 support and 1.3150 resistance.
The expected trend for today: Bullish