Gold price breaches the resistance – Analysis - 11-01-2022
Gold price breached 1797.00 level clearly and closed the daily candlestick above it, to stop the recently suggested negative scenario and turn to rise, on its way to visit 1825.15 level as a first main station.
Therefore, we expect to witness more bullish bias in the upcoming sessions unless breaking 1797.00 and holding below it.
The expected trading range for today is between 1790.00 support and 1825.00 resistance.
The expected trend for today: Bullish
The USDCAD draws the negative pattern – Analysis - 11-01-2022
The USDCAD pair completed forming the head and shoulders’ pattern, waiting to break the neckline at 1.2620 to activate the negative effect of this pattern followed by rallying towards our negative targets that start by surpassing 1.2590 to open the way to head towards 1.2480.
Stochastic provides negative signals now to support the chances of achieving the required break, to continue suggesting the bearish trend on the intraday basis unless breaching 1.2725 and holding above it.
The expected trading range for today is between 1.2560 support and 1.2700 resistance.
The expected trend for today: Bearish
The USDJPY begins bearish correction – Analysis - 11-01-2022
The USDJPY pair ended yesterday with clear negativity to break 115.35 and settles below it, to head towards achieving temporary bearish correction before turning back to rise again.
Therefore, the bearish bias will be suggested for today, and the main expected target reaches 114.50, noting that breaching 115.35 will stop the current negative pressure and lead the price to resume the main bullish trend.
The expected trading range for today is between 114.60 support and 115.80 resistance
The expected trend for today: Bearish
The GBPUSD leans on the channel’s support - Analysis - 11-01-2022
The GBPUSD pair leaned on the bullish channel’s support line and bounced bullishly to resume the main bullish trend, and the way is open to achieve our waited target at 1.3660.
Therefore, we will continue to suggest the bullish trend that gets continuous support by the EMA50, noting that the continuation of the bullish wave requires holding above 1.3555.
The expected trading range for today is between 1.3520 support and 1.3690 resistance.
The expected trend for today: Bullish