Gold price hits the target – Analysis - 29-07-2022
Gold price succeeded to achieve our waited target at 1755.70, and begins today with additional bullish bias to breach this level and confirm the continuation of the correctional bullish trend, targeting 1770.00 followed by 1779.25 levels as next stations.
Therefore, we expect to witness more bullish bias within the intraday bullish channel that appears on the chart, taking into consideration that failing to breach 1770.00 will stop the bullish wave and press on the price to return to the main bearish track again.
The expected trading range for today is between 1745.00 support and 1780.00 resistance.
The expected trend for today: Bullish
The USDCAD reaches the extended target – Analysis - 29-07-2022
The USDCAD pair provided new negative trades to reach 1.2790 level, and the EMA50 continues to press negatively on the price, to reinforce the expectations of continuing the correctional bearish trend, which its next target reaches 1.2685.
Therefore, we will continue to suggest the bearish trend for the upcoming period unless breaching 1.2870 and holding above it.
The expected trading range for today is between 1.2740 support and 1.2860 resistance.
The expected trend for today: Bearish
The USDJPY keeps achieving the negative targets – Analysis - 29-07-2022
The USDJPY pair succeeded to achieve our second target at 134.55 and begins today with clear decline to break this level and open the way to extend the correctional bearish wave, targeting 133.00 followed by 131.55 levels as next negative stations.
Therefore, we are waiting for more expected decline in the upcoming sessions unless the price rallied to breach 134.55 followed by 135.70 levels and holding above them.
The expected trading range for today is between 132.90 support and 134.55 resistance
The expected trend for today: Bearish
The GBPUSD awaits more rise - Analysis - 29-07-2022
The GBPUSD pair faced temporary negative pressure yesterday to test 1.2100 barrier and rebounds bullishly to resume the bullish wave, as the positive effect of the inverted head and shoulders’ pattern still active, supported by the EMA50, waiting for more rise to visit 1.2300 as a next main target.
Therefore, the bullish trend scenario will remain valid and active unless breaking 1.2077 and holding below it.
The expected trading range for today is between 1.2100 support and 1.2270 resistance.
The expected trend for today: Bullish