Gold price builds positive formation – Analysis - 20-06-2022
Gold price leadned on 1838.10 level and attempts to trade positively now, noticing that stochastic provides positive signals that we are waiting to motivate the price to rise in the upcoming sessions, and by taking a deeper look at the chart, we find that the price recorded higher low in the recent trades, which supports the chances of achieving more gains in the upcoming period, and the price needs to breach 1850.00 to reinforce the expectations to rise.
Therefore, the bullish trend will be suggested for the upcoming period, and the targets begin at 1890.00 and extend to 1925.35 after surpassing the previous level, noting that breaking 1830.00 will stop the expected rise and press on the price to turn to decline.
The expected trading range for today is between 1830.00 support and 1870.00 resistance.
The expected trend for today: Bullish
The USDCAD hits the extended target – Analysis - 20-06-2022
The USDCAD pair traded with strong positivity in the previous sessions to succeed achieving our extended target at 1.3076, noticing that the price bounced bearishly from there after facing solid resistance that makes us suggest witnessing expected decline on the intraday basis, on its way to visit 1.2930 mainly.
Therefore, the bearish bias will be expected for today unless the price resumed its bullish rally to breach 1.3076 and settle above it.
The expected trading range for today is between 1.2930 support and 1.3060 resistance.
The expected trend for today: Bearish temporarily
The USDJPY reaches the first target – Analysis - 20-06-2022
The USDJPY pair rallied upwards strongly on last Friday to reach few pips away from our first main waited target at 135.50, noticing that the price found solid resistance there, to start bouncing bearishly, which makes us suggest witnessing negative trades in the upcoming sessions, targeting testing 133.50 mainly.
Stochastic negativity supports the expected decline, noting that breaching 135.60 will stop the negative scenario and lead the price to continue the rise and head to visit 136.00 barrier initially.
The expected trading range for today is between 134.00 support and 135.50 resistance
The expected trend for today: Bearish
The GBPUSD retests the neckline - Analysis - 20-06-2022
The GBPUSD pair continued to decline to retest the breached neckline of the inverted head and shoulders’ pattern that appears on the chart, noticing that the price kept its stability above this level, accompanied by witnessing clear positive signals through stochastic, which motivates the price to start providing positive attempts now.
Therefore, we will keep our bullish overview unless breaking 1.2205 and holding below it, reminding you that our next main target reaches 1.2490.
The expected trading range for today is between 1.2160 support and 1.2320 resistance.
The expected trend for today: Bullish