Gold price is below the resistance – Analysis - 08-10-2021
Gold price fluctuates within sideways track recently, settling below the bearish channel’s resistance that appears on the chart, waiting to resume the bearish wave that targets testing 1735.00 level initially, to keep the bearish trend scenario active for the upcoming period.
On the other hand, we should note that breaching 1770.00 will stop the expected decline and lead the price to turn to rise and achieve gains that start by visiting 1800.00$ barrier.
The expected trading range for today is between 1735.00 support and 1770.00 resistance.
The expected trend for today: Bearish
The USDCAD resumes the decline – Analysis - 08-10-2021
The USDCAD pair resumed its negative trades clearly to move away from 1.2600 barrier, reinforcing the expectations of continuing the bearish trend, and the way is open to achieve our main waited target at 1.2495.
The EMA50 continues to support the suggested bearish wave, which will remain valid conditioned by the price stability below 1.2600 and the most important below 1.2665.
The expected trading range for today is between 1.2470 support and 1.2600 resistance.
The expected trend for today: Bearish
The USDJPY approaches the recent high – Analysis - 08-10-2021
The USDJPY pair resumes its positive trading clearly to approach our main waited target at 112.05, and we expect to breach this level to open the way to achieve additional gains that reach 113.15.
Therefore, the positive scenario will remain valid on the intraday and short term basis, noting that holding above 110.95 is important to continue the expected rise.
The expected trading range for today is between 111.30 support and 112.50 resistance
The expected trend for today: Bullish
The GBPUSD breaches the resistance - Analysis - 08-10-2021
The GBPUSD pair breached 1.3600 level clearly and settled above it, to reactivate the correctional bullish trend scenario on the intraday basis, to head towards achieving gains that start at 1.3660 followed by 1.3720.
Therefore, the bullish bias will be suggested for today supported by moving above the EMA50, taking into consideration that breaking 1.3600 followed by 1.3555 levels will stop the expected rise and press on the price to return to the bearish channel again.
The expected trading range for today is between 1.3555 support and 1.3710 resistance.
The expected trend for today: Bullish