|
Gold price surpasses the first target – Analysis - 20-10-2022
Gold price managed to achieve our first waited target at 1630.00 and surpassed it to confirm the continuation of the bearish trend domination on the intraday and short term basis, organized inside the bearish channel that supports the chances of heading towards our next negative station at 1615.00, and we believe that the way is open to continue the decline towards 1600.00$ per ounce barrier.
Therefore, we are waiting for more bearish bias in the upcoming sessions, supported by the negative pressure formed by the EMA50, taking into consideration that breaching 1646.60 is considered the first key to stop the current negative pressure and head to start recovery attempts on the intrada basis.
The expected trading range for today is between 1600.00 support and 1640.00 resistance.
The expected trend for today: Bearish
Join Economies Discord channel to discuss this analysis
Thanks for your feedback.
The USDCAD stops the bearish correction – Analysis - 20-10-2022
The USDCAD pair trades positively since yesterday, to surpass the correctional bearish channel’s resistance and hint heading to resume the main bullish trend after the temporary bearish correction that it witnessed in the previous sessions, on its way to achieve positive targets that start by breaching 1.3855 to confirm continue the rise towards 1.3977.
MoreThe USDJPY keeps recording the historical highs – Analysis - 20-10-2022
The USDJPY pair keeps rising to reach 150.00 barrier, and continues to record new historical levels, organized inside the bullish channels that support the chances of achieving more rise in the upcoming sessions, to head towards 151.30 areas as a next main station.
MoreThe GBPUSD exits the bullish channel - Analysis - 20-10-2022
The GBPUSD pair provided more negative trades yesterday to break the bullish channel’s support line and settles below it, which puts the price under expected negative pressure on the intraday and short term basis, on its way to visit 1.1055 followed by 1.0920 areas.
More