Gold price suffers more losses – Analysis - 31-03-2021
Gold price confirmed breaking 1692.00 level after closing the daily candlestick below it, reinforcing the expectations of continuing the bearish trend on the intraday and short term basis, and the way is open to head towards our next target that reaches 1665.00.
The bearish channel continues to organize the suggested bearish wave, which gets good support by the EMA50, noting that breaching 1692.00 might push the price to achieve intraday gains that target testing 1730.00 before any new attempt to decline.
The expected trading range for today is between 1660.00 support and 1695.00 resistance.
The expected trend for today: Bearish
The USDCAD resumes the rise – Analysis - 31-03-2021
The USDCAD pair resumed its positive trading to settle above 1.2600 barrier, reinforcing the expectations of continuing the bullish trend, which targets 1.2705 as a next main station.
The EMA50 continues to support the suggested bullish wave, which will remain valid unless breaking 1.2525 and holding below it.
The expected trading range for today is between 1.2560 support and 1.2705 resistance.
The expected trend for today: Bullish
The USDJPY achieves the extended targets – Analysis - 31-03-2021
The USDJPY pair rallied upwards strongly to surpass our waited target at 110.30 and reach the extended target at 111.00, organized inside the bullish channel that appears on the chart, which has positive targets that extend to 111.70.
Therefore, the bullish trend will remain suggested on the intraday and short term basis, noting that breaking 110.15 might press on the price to test the key support 109.20 before any new attempt to rise.
The expected trading range for today is between 110.30 support and 111.60 resistance
The expected trend for today: Bullish
The GBPUSD continues to decline - Analysis - 31-03-2021
The GBPUSD pair keeps declining to reach 1.3700 barrier, and the negative effect of the double top pattern still active, waiting for more bearish bias in the upcoming sessions, reminding you that our main waited targets start at 1.3675 and extend to 1.3580.
The EMA50 continues to support the suggested bearish wave, noting that achieving the expected targets requires holding below 1.3835.
The expected trading range for today is between 1.3640 support and 1.3800 resistance.
The expected trend for today: Bearish