Gold price continues the positive attempts – Analysis - 11-05-2021
Gold price approached 1847.00 level but it bounced bearishly to settle below 1838.00, noticing that stochastic gets rid of its negative momentum clearly, waiting to motivate the price to resume the main bullish trend, which its next target extends to 1865.00.
The EMA50 continues to support the suggested bullish wave, which will remain valid conditioned by the price stability above 1825.00.
The expected trading range for today is between 1820.00 support and 1855.00 resistance.
The expected trend for today: Bullish
The USDCAD under continuous negative pressure – Analysis - 11-05-2021
The USDCAD pair shows more decline to surpass our waited target at 1.2100 and settles below it, reinforcing the expectations of continuing the bearish trend in the upcoming period, and the way is open to visit 1.2000 that represents our next target.
The EMA50 continues to support the suggested bearish wave, which will remain valid conditioned by the price stability below 1.2200.
The expected trading range for today is between 1.2030 support and 1.2150 resistance.
The expected trend for today: Bearish
The USDJPY attempts to recover – Analysis - 11-05-2021
The USDJPY pair provided temporary positive trades yesterday to test the EMA50, noticing that the price moves inside an intraday bearish channel that supports the expectations of continuing the bearish trend in the upcoming sessions, waiting for more decline on the intraday and short term basis.
Our main expected target reaches 107.70, while achieving it requires holding below 109.22.
The expected trading range for today is between 108.00 support and 109.20 resistance
The expected trend for today: Bearish
The GBPUSD returns to the main channel - Analysis - 11-05-2021
The GBPUSD pair continued its bullish rally to surpass 1.4080 level and settles above it, to return to the main bullish channel again, paving the way to achieve more gains that reach 1.4238.
Therefore, we expect witnessing additional positive trades in the upcoming sessions, noting that breaking 1.4090 will press on the price to start correctional bearish wave on the intraday basis.
The expected trading range for today is between 1.4050 support and 1.4210 resistance.
The expected trend for today: Bullish