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Gold price resumes the decline – Analysis - 21-10-2022
Gold price bounced downwards clearly after testing the bearish channel’s resistance in the upcoming sessions, to keep the bearish trend scenario active for the upcoming period, waiting to visit 1615.00 as a next main target.
The recent trades are confined within bearish pennant pattern that supports the chances of surpassing the mentioned target to head towards 1600.00 barrier direct, thus, we will continue to suggest the bearish trend on the intraday basis conditioned by the price stability below 1640.00.
The expected trading range for today is between 1600.00 support and 1640.00 resistance.
The expected trend for today: Bearish
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The USDCAD tests the support – Analysis - 21-10-2022
The USDCAD pair tested the key support 1.3680 and bounced bullishly from there, to head towards resuming the expected bullish trend for the upcoming period, supported by the EMA50, waiting to visit 1.3855 followed by 1.3977 levels as next main targets.
MoreThe USDJPY shows continuous rise – Analysis - 21-10-2022
The USDJPY pair surpassed 150.00 barrier to support the expectations of continuing the bullish trend on the short term and medium term basis, opening the way to head towards our next main target that reaches 151.30.
MoreThe GBPUSD consolidates below the broken support - Analysis - 21-10-2022
The GBPUSD pair still stable below the bullish channel’s support line, which keeps the negative pressure valid on the intraday basis, waiting to get negative motive that assist to push the price to achieve our targets that start at 1.1055 and extend to 1.0920.
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