Gold price if affected by the negative pattern – Analysis - 10-01-2022
Gold price tested 1797.00 level and keeps its stability below it, noticing that this level represents the broken neckline of the double top pattern that appears on the chart, accompanied by stochastic reach to the overbought areas, which supports the chances of declining to resume the negative trades again.
Therefore, the bearish trend scenario will remain suggested in the upcoming sessions conditioned by the price stability below 1797.00, noting that our next target is located at 1770.00.
The expected trading range for today is between 1770.00 support and 1805.00 resistance.
The expected trend for today: Bearish
The USDCAD declines again – Analysis - 10-01-2022
The USDCAD pair couldn’t manage to surpass 1.2725 level, to decline strongly and head towards key turn to the trend, as we notice that the price draws head and shoulders’ pattern that might press on the price to suffer more losses on the intraday and short term basis.
Therefore, the bearish bias will be suggested in the upcoming sessions unless the price rallied to breach 1.2725 and hold above it, noting that the expected targets begin at 1.2590 and extend to 1.2480 after breaking the previous level.
The expected trading range for today is between 1.2560 support and 1.2700 resistance.
The expected trend for today: Bearish
The USDJPY tests the support base – Analysis - 10-01-2022
The USDJPY pair tested 115.35 level and bounced bullishly from there, to keep the bullish trend scenario valid and active for the upcoming period, motivated by stochastic positivity, waiting to visit 116.50 as a next target.
The EMA50 supports the expected rise, noting that breaking 115.35 might press on the price to achieve some bearish correction on the intraday basis before turning back to rise again.
The expected trading range for today is between 115.30 support and 116.50 resistance
The expected trend for today: Bullish
The GBPUSD surpasses the resistance - Analysis - 10-01-2022
The GBPUSD pair managed to breach 1.3565 level and hold above it, which supports the expectations of the bullish trend efficiently for the upcoming period, waiting to head towards 1.3660 that represents our next station.
The bullish channel continues to organize the suggested bullish wave, noting that holding above 1.3565 and 1.3540 is important to continue the expected rise.
The expected trading range for today is between 1.3510 support and 1.3680 resistance.
The expected trend for today: Bullish