Gold price gets a negative motive – Analysis - 23-07-2021
Gold price faces difficulty to break 1797.00 level, to show some bearish bias and test the EMA50 that forms good resistance against the price, noticing that stochastic provides negative signals now, which supports the chances of resuming the negative trades to break the mentioned level and open the way to visit 1770.00 as a next target.
Therefore, our bearish overview will remain valid and active unless the price rallied to breach 1825.15 and hold above it.
The expected trading range for today is between 1775.00 support and 1820.00 resistance.
The expected trend for today: Bearish
The USDCAD below the moving average – Analysis - 23-07-2021
The USDCAD pair fluctuates within sideways track since yesterday, settling below the EMA50, to keep the negative pressure valid for the upcoming period, waiting to test 1.2475 as a next main target.
Stochastic loses its positive momentum gradually to support the expectations to decline, which will remain valid unless breaching 1.2650 and holding above it.
The expected trading range for today is between 1.2500 support and 1.2620 resistance.
The expected trend for today: Bearish
The USDJPY gets a positive signal – Analysis - 23-07-2021
The USDJPY pair settles above the EMA50, and we notice that the EMA50 begins to overlap positively now, waiting to motivate the price to resume the expected bullish trend on the intraday basis, which its first main target located at 110.80.
Therefore, we will continue to suggest the bullish trend conditioned by the price stability above 109.75, reminding you that surpassing the mentioned target will push the price to 111.70 as a next main target.
The expected trading range for today is between 109.60 support and 110.90 resistance
The expected trend for today: Bullish
The GBPUSD surpasses the moving average - Analysis - 23-07-2021
The GBPUSD pair breached the EMA50 and settled above it, to reinforce the expectations of continuing the bullish trend, waiting to test the bearish channel’s resistance at 1.3840.
It is important to monitor the price behavior when reaching the targeted level, as breaching it will lead the price to achieve additional gains that reach 1.4000, while consolidating below it will press on the price to resume the decline inside the bearish channel that appears on the chart and test 1.3680 initially.
The expected trading range for today is between 1.3700 support and 1.3850 resistance.
The expected trend for today: Bullish