Gold price faces temporary negative pressure – Analysis - 23-04-2021
Gold price’s decline stopped at 1777.00 level, to start providing positive trades that hint heading to resume the main bullish trend, organized inside the bullish channel that appears on the chart, waiting to test 1800.00 as a first target, reminding you that breaching this level will push the price to 1838.00 as a next station.
Therefore, we will keep our bullish overview unless breaking 1765.00 and holding below it.
The expected trading range for today is between 1770.00 support and 1810.00 resistance.
The expected trend for today: Bullish
The USDCAD is below the moving average – Analysis - 23-04-2021
The USDCAD pair settles around 1.2500 level, falling under the negative pressure formed by the EMA50, which support the continuation of our bearish overview, which target 1.2365 level mainly.
Holding below 1.2595 is important to continue the expected decline, as breaching it will lead the price to start correctional bullish wave on the short term basis.
The expected trading range for today is between 1.2430 support and 1.2560 resistance.
The expected trend for today: Bearish
The USDJPY gets a negative signal – Analysis - 23-04-2021
The USDJPY pair settled below 108.00 barrier, noticing that stochastic provides negative overlapping signal now, waiting to motivate the price to continue the decline to touch our waited target at 107.70, and the chances valid to surpass this level and open the way to head towards 106.45 as a next negative target.
Therefore, our bearish overview will remain valid and active conditioned by the price stability below 108.35.
The expected trading range for today is between 107.30 support and 108.35 resistance
The expected trend for today: Bearish
The GBPUSD approaches the target - Analysis - 23-04-2021
The GBPUSD pair provided clear negative trades to reach the thresholds of the waited target at 1.3800, and we expect surpassing this level to achieve more decline in the upcoming sessions, supported by moving below the EMA50, noting that the next target extends to 1.3700.
Therefore, we are waiting for more decline on the intraday basis, noting that failing to achieve the required break will lead the price to start recovery attempts that target 1.3985 areas mainly.
The expected trading range for today is between 1.3750 support and 1.3900 resistance.
The expected trend for today: Bearish