Gold price loses momentum – Analysis - 19-04-2019
Gold price continues to fluctuate around 1275.30 level, and the negative effect of the triple top still active, thus, our bearish overview will remain valid for the upcoming period, supported by the negative pressure formed by the EMA50, waiting to target 1253.20 followed by 1231.13 levels mainly.
We remind you that the continuation of the expected bearish trend depends on the price stability below 1275.30 and 1282.00 levels.
The expected trading range for today is between 1253.20 support and 1282.00 resistance.
The expected trend for today: Bearish
The USDCAD keeps its negative stability – Analysis - 19-04-2019
The USDCAD pair showed new test to 1.3382 level and kept its stability below it, to keep the bearish trend scenario valid for the upcoming period, supported by the negative signal provided by stochastic, waiting to head towards 1.3245 followed by 1.3128 levels mainly.
We should note that breaching 1.3382 and holding above it will push the price to turn to rise and achieve positive targets that begin at 1.3500.
The expected trading range for today is between 1.3260 support and 1.3420 resistance.
The expected trend for today: Bearish
The USDJPY gets a negative signal – Analysis - 19-04-2019
The USDJPY pair shows sideways and tight trades recently, keeping its stability below 112.14, noticing that stochastic begins to provide negative overlapping signal on the four hours’ time frame, which forms motive that we are waiting to push the price to resume the expected bearish trend for the upcoming period, which targets 111.45 followed by 110.86 levels mainly.
We should note that breaching 112.14 will stop the expected decline and push the price to resume the bullish trend on the short term basis.
The expected trading range for today is between 111.10 support and 112.60 resistance
The expected trend for today: Bearish
The GBPUSD approaches the target – Analysis - 19-04-2019
The GBPUSD pair shows more decline to approach our waited target at 1.2962, noticing that the price broke the triangle’s support line that appears on the chart, which puts the price under more negative pressure on the longer term basis, paving the way to break the mentioned level and open the way to extend the bearish wave towards 1.2800 as a next target.
Therefore, we will continue to suggest the bearish trend in the upcoming sessions conditioned by the price stability below 1.3080.
The expected trading range for today is between 1.2900 support and 1.3055 resistance.
The expected trend for today: Bearish