Gold price gets a positive signal – Analysis - 23-01-2023
Gold price keeps its stability above 1928.60, noticing that stochastic overlaps positively now, waiting to motivate the price to resume the bullish wave that its next target located at 1950.00.
Therefore, our bullish overview will remain valid for the upcoming period, supported by the EMA50 that continues to carry the price from below, noting that failing to consolidate above 1928.60 will press on the price to test 1900.00 and might extend to 1885.00 areas before any new attempt to rise.
The expected trading range for today is between 1915.00 support and 1950.00 resistance.
The expected trend for today: Bullish
The USDCAD reaches the target – Analysis - 23-01-2023
The USDCAD pair traded with strong negativity in the previous sessions to succeed reaching our waited target at 1.3350, and we suggest surpassing this level to achieve more decline that its next main target reaches 1.3205.
Therefore, the bearish trend scenario will remain valid and active, supported by the negative pressure formed by the EMA50, noting that failing to break 1.3350 will push the price to test 1.3500 areas again before any new attempt to decline.
The expected trading range for today is between 1.3290 support and 1.3440 resistance.
The expected trend for today: Bearish
The USDJPY achieves new gains – Analysis - 23-01-2023
The USDJPY pair breached 128.90 again to rally upwards and touch 130.60 level, noticing that the price returns to decline after recording new lower high, to hint the continuation of the overall bearish trend domination, and the price needs to break 128.90 and trade below it again to reactivate the main negative scenario and head towards 127.10 areas initially.
Therefore, we expect to witness bearish bias in the upcoming sessions conditioned by the price stability below 130.35.
The expected trading range for today is between 128.20 support and 130.00 resistance
The expected trend for today: Bearish
The GBPUSD hits the target - Analysis - 23-01-2023
The GBPUSD pair succeeded to touch our waited target at 1.2440 and attempts to breach it, to suggest extending the bullish wave within the bullish channel that has additional positive targets that reach 1.2590.
Therefore, the bullish trend scenario will remain valid for the upcoming period, noting that breaking 1.2340 will stop the expected rise and press on the price to achieve new bearish correction.
The expected trading range for today is between 1.2380 support and 1.2530 resistance.
The expected trend for today: Bullish