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Gold price begins positively – Analysis - 21-08-2023
Gold price fluctuates positively by today’s open to head towards expected test to the bearish channel’s resistance, affected by stochastic positivity, waiting to resume the bearish trend that targets 1873.50 areas as a next main station.
The negative pressure formed by the EMA50 supports the suggested bearish wave, noting that breaching 1895.00 will push the price to achieve additional gains and head to test the key resistance 1913.15 before any new attempt to decline.
The expected trading range for today is between 1873.50 support and 1900.00 resistance.
The expected trend for today: Bearish
The USDCAD gains the positive momentum – Analysis - 21-08-2023
The USDCAD pair continued to rise to approach our first waited target at 1.3595, and continues to move inside the bullish channel that supports the chances of continuing the rise to achieve additional positive targets that reach 1.3680.
MoreThe USDJPY attempts to resume the bullish trend – Analysis - 21-08-2023
The USDJPY pair’s decline stopped at the EMA50 that formed good support against the price, to hint stopping the bearish correction and head to resume the main bullish trend, noticing that the recent trades are confined inside minor bearish channel that we believe it forms bullish flag pattern, which means that breaching 145.55 will activate the positive effect of this pattern and push the price to rise again.
MoreThe GBPUSD within sideways track - Analysis - 21-08-2023
The GBPUSD pair shows sideways trades and hovers around the EMA50, accompanied by stochastic loss to the positive momentum clearly, waiting to motivate the price to resume the negative trades to break 1.2725 and open the way to head towards our first target at 1.2625.
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