Gold price attempts to breach – Analysis - 17-06-2022
Gold price provided clear positive trades yesterday and attacked 1850.00 level, but it begins today with clear decline to settle below the mentioned level, which encourages us to suggest the bearish bias today, supported by stochastic current negativity, waiting to motivate the price to decline towards 1810.00 followed by 1780.25 levels mainly.
Breaking 1838.10 will reinforce the expectations to decline, which will remain valid unless breaching 1850.00 and holding above it.
The expected trading range for today is between 1820.00 support and 1855.00 resistance.
The expected trend for today: Bearish
The USDCAD is recovering – Analysis - 17-06-2022
The USDCAD pair approached our waited negative target at 1.2840 but it bounced upwards strongly to breach 1.2930 and settles above it, to stop the negative scenario and head to rise again, on its way to achieve gains that we expect to start at 1.2990 and extend to 1.3076.
The EMA50 supports the suggested bullish wave, being aware that breaking 1.2930 and holding below it will stop the positive scenario and press on the price to decline strongly to target 1.2840 areas initially.
The expected trading range for today is between 1.2900 support and 1.3030 resistance.
The expected trend for today: Bullish
The USDJPY achieves additional bearish correction – Analysis - 17-06-2022
The USDJPY pair opened today with strong decline to break 133.50 and reach the thresholds of 50% Fibonacci correction level for the last bullish wave that appears on the chart, but we notice that the price recovers quickly to settle above 133.50 level again, which keeps the bullish trend scenario active for the upcoming period, waiting to visit 135.50 followed by 136.00 levels mainly.
Stochastic provides positive signals that support the expected rise, which will remain valid conditioned by the price stability above 133.50.
The expected trading range for today is between 133.30 support and 134.70 resistance
The expected trend for today: Bullish
The GBPUSD completes the positive formation - Analysis - 17-06-2022
The GBPUSD pair soared yesterday after completing the positive pattern that appears on the chart, to head towards achieving expected gains on the intraday basis, targeting visiting 1.2490 as a next positive station.
Therefore, the bullish bias will be expected for today, noting that breaking 1.2205 will stop the suggested rise and press on the price to turn to decline.
The expected trading range for today is between 1.2230 support and 1.2400 resistance.
The expected trend for today: Bullish