Gold price tests the resistance – Analysis - 23-06-2022
Gold price provided positive trades to test the key resistance 1850.00, and bounced bearishly from there to keep the bearish trend scenario active for the upcoming period, waiting for more expected decline on the intraday basis, noticing that stochastic provides clear negative signals that we are waiting to motivate the price to head towards our main targets that start at 1810.00 followed by 1780.25.
Therefore, we will keep our bearish overview unless the price rallied to breach 1850.00 and hold above it.
The expected trading range for today is between 1800.00 support and 1850.00 resistance.
The expected trend for today: Bearish
The USDCAD gets a positive signal – Analysis - 23-06-2022
The USDCAD pair attempted to break 1.2930 level but it kept its stability above it, as the EMA50 continues to provide the positive support to the price, while stochastic begins to provide new positive signals now.
Therefore, we believe that the chances valid to resume the bullish trend that targets 1.3010 followed by 1.3076 levels as next main stations, noting that breaking 1.2930 will stop the expected rise and press on the price to turn to decline.
The expected trading range for today is between 1.2910 support and 1.3040 resistance.
The expected trend for today: Bullish
The USDJPY begins new bearish correction – Analysis - 23-06-2022
The USDJPY pair begins today with clear negativity to break 135.60 and settles below it, to head towards achieving bearish correction on the intraday basis, targeting testing 134.30 mainly.
Note that the expected decline is temporary, waiting to resume the main bullish wave, taking into consideration that breaching 135.60 and holding above it again will stop the current negative pressure and push the price to recover.
The expected trading range for today is between 134.70 support and 136.00 resistance
The expected trend for today: Bearish
The GBPUSD keeps its positive stability - Analysis - 23-06-2022
The GBPUSD pair settles above 1.2205 level, to keep the bullish trend scenario active until now, waiting to get enough positive momentum to push the price to resume the positive trades and head towards our targets that start at 1.2320 and extend to 1.2490 after surpassing the previous level.
Note that breaking 1.2205 will stop the expected rise and press on the price to decline towards 1.2077 initially.
The expected trading range for today is between 1.2200 support and 1.2350 resistance.
The expected trend for today: Bullish