Gold price attempts to recover – Analysis - 19-10-2021
Gold price begins today’s trading with bullish bias to breach 1770.00 and settles above it, which leads the price to achieve expected intraday gains in the upcoming sessions, targeting testing 1797.00 initially.
Therefore, we expect to witness more rise today, taking into consideration that breaking 1770.00 and holding below it again will reactivate the bearish trend scenario that its first target located at 1734.00.
The expected trading range for today is between 1760.00 support and 1795.00 resistance.
The expected trend for today: Bullish
The USDCAD breaks the support – Analysis - 19-10-2021
The USDCAD pair resumes its negative trades to break 1.2365 and attempts to hold below it, reinforcing the expectations of continuing the correctional bearish trend, supported by the negative pressure formed by the EMA50, waiting to visit 1.2230 as a next main target.
Holding below 1.2365 represents initial condition to continue the expected decline, as breaching it and consolidating above it might push the price to test 1.2495 areas before any new attempt to decline.
The expected trading range for today is between 1.2270 support and 1.2400 resistance.
The expected trend for today: Bearish
The USDJPY within positive pattern – Analysis - 19-10-2021
The USDJPY pair’s recent trades are confined within bullish pennant pattern that appears on the chart, thus, the price needs to beach 114.35 to get positive motive that push trades to resume the bullish trend, which its next target located at 114.70.
Therefore, we believe that the chances valid to continue the expected bullish trend for the upcoming period, noting that breaking 114.00 will stop the positive scenario and press on the price to start correctional bearish wave on the intraday basis.
The expected trading range for today is between 113.70 support and 115.00 resistance
The expected trend for today: Bullish
The GBPUSD resumes the rise - Analysis - 19-10-2021
The GBPUSD pair opens today with clear positivity to move away from 1.3720 level, which supports the continuation of our bullish overview on the intraday and short term basis, motivated by stochastic positivity, and the way is open to achieve our first waited positive target at 1.3795, noting that breaching this level will extend the bullish wave to reach 1.3910 as a next target.
The EMA50 supports the suggested bullish wave, which its continuation requires holding above 1.3720.
The expected trading range for today is between 1.3690 support and 1.3850 resistance.
The expected trend for today: Bullish