Gold price crawls downwards – Analysis - 24-06-2022
Gold price continues to decline calmly, approaching gradually from our first negative target at 1810.00, to keep the bearish trend scenario active, waiting for more decline to visit 1780.25 as a next negative station.
In general, we will continue to suggest the bearish trend – supported by the negative pressure formed by the EMA50 – unless the price rallied to breach 1850.00 and hold above it.
The expected trading range for today is between 1800.00 support and 1840.00 resistance.
The expected trend for today: Bearish
The USDCAD achieves the first target – Analysis - 24-06-2022
The USDCAD pair managed to achieve our first waited target at 1.3010 and found solid resistance there, to show some temporary bearish bias, affected by stochastic negativity, waiting to get positive motive that assist to push the price to resume the bullish wave that its next target located at 1.3076.
Therefore, the bullish trend scenario will remain valid supported by the EMA50 unless breaking 1.2930 and holding below it.
The expected trading range for today is between 1.2930 support and 1.3070 resistance.
The expected trend for today: Bullish
The USDJPY hits the first correctional target – Analysis - 24-06-2022
The USDJPY pair succeeded to touch our waited target at 134.30, starting today with new bearish bias that hints heading to surpass this level and achieve more bearish correction, noting that our next negative targets reach 133.15 followed by 132.85.
Therefore, we will continue to suggest the bearish trend for the upcoming period unless breaching 135.30 and holding above it.
The expected trading range for today is between 133.90 support and 135.20 resistance
The expected trend for today: Bearish
The GBPUSD needs positive motive - Analysis - 24-06-2022
The GBPUSD pair keeps its stability above 1.2205 level after the several attempts to break it, which keeps our bullish overview valid and active for the upcoming period, waiting to achieve our positive targets that start at 1.2320 and extend to 1.2490.
Note that breaking 1.2205 and holding below it will press on the price to turn to decline and achieve negative targets that reach 1.2077 initially.
The expected trading range for today is between 1.2200 support and 1.2370 resistance.
The expected trend for today: Bullish