Gold price reaches the target – Analysis - 12-01-2022
Gold price reached few pips away from our waited target at 1825.15, and shows some slight bearish bias now, affected by stochastic negativity, while the EMA50 provides positive support to the price to encourage us to suggest more bullish bias in the upcoming sessions, reminding you that breaching the mentioned level will push the price to 1860.00 as a next positive target.
Therefore, the bullish trend will remain valid on the intraday basis unless breaking 1797.00 and holding below it.
The expected trading range for today is between 1805.00 support and 1835.00 resistance.
The expected trend for today: Bullish
The USDCAD breaks the neckline – Analysis - 12-01-2022
The USDCAD pair traded with strong negativity to succeed breaking the neckline of the head and shoulders’ pattern that appears on the chart and activate the negative pattern, as it surpassed 1.2590 to confirm extending the bearish wave to target 1.2480 as a next main station.
Therefore, we are waiting for more decline in the upcoming sessions, noting that breaching 1.2625 will stop the negative pressure and lead the price to attempt to recover again.
The expected trading range for today is between 1.2470 support and 1.2600 resistance.
The expected trend for today: Bearish
The USDJPY gets negative signal – Analysis - 12-01-2022
The USDJPY pair provided positive trades to test the resistance that appears on the chart, and rebounds bearishly to hint heading to resume the correctional bearish track on the intraday basis, waiting to test 114.50 as a next main target.
Therefore, we will continue to suggest the bearish trend supported by the negative signal that appears on stochastic, taking into consideration that the continuation of the bearish wave depends on the price stability below 115.60.
The expected trading range for today is between 114.60 support and 115.85 resistance
The expected trend for today: Bearish
The GBPUSD approaches the target - Analysis - 12-01-2022
The GBPUSD pair shows additional positive trades to approach our waited target at 1.3660, and continues to move inside the bullish channel that supports the chances of surpassing this level and open the way to achieve more gains in the upcoming sessions, as the next target reaches 1.3775.
Therefore, the bullish trend will remain expected on the intraday and short term basis, noting that it is important to hold above 1.3565 to continue the suggested rise.
The expected trading range for today is between 1.3565 support and 1.3740 resistance.
The expected trend for today: Bullish