Gold price tests the resistance – Analysis - 13-10-2021
Gold price keeps its stability below the first key resistance 1770.00, to keep the negative pressure valid and suggested for the upcoming period, and the price needs to break 1751.00 to ease the mission of heading towards our first waited negative target at 1735.00, reminding you that breaking this level will extend the bearish wave to reach 1692.00.
On the other hand, we should note that breaching 1770.00 followed by 1780.00 levels will stop the suggested negative scenario and lead the price to turn to rise.
The expected trading range for today is between 1735.00 support and 1775.00 resistance.
The expected trend for today: Bearish
The USDCAD keeps its negative stability – Analysis - 13-10-2021
The USDCAD pair settles below 1.2495, to keep the negative pressure valid on the intraday and short term basis, supported by the EMA50 that pushes the price to the downside, waiting to visit 1.2365 as a next main target.
Note that breaching 1.2495 will push the price to achieve intraday gains and test 1.2590 areas before any new attempt to decline.
The expected trading range for today is between 1.2370 support and 1.2500 resistance.
The expected trend for today: Bearish
The USDJPY faces solid resistance – Analysis - 13-10-2021
The USDJPY pair fluctuates around the bullish channel’s resistance that appears on the chart, and the price attempts to get positive momentum that assist to push trades to resume the bullish trend, which targets 114.00 as a next station.
Until now, we continue to suggest the bullish trend that gets continuous support by the EMA5 conditioned by the price stability above 113.10, as breaking it will press on the price to test 112.30 areas before any new attempt to rise.
The expected trading range for today is between 112.90 support and 114.10 resistance
The expected trend for today: Bullish
The GBPUSD begins with new positivity - Analysis - 13-10-2021
The GBPUSD pair faced new negative pressure yesterday, to attack 1.3600 level, but we notice that the price begins today with new rise to head towards potential test to 1.3660, and we still waiting to breach this level to confirm the continuation of the correctional bullish trend, which its targets extend to reach 1.3795 followed by 1.3865.
Therefore, we will continue to suggest the bullish trend for the upcoming period conditioned by the price stability above 1.3600 – 1.3570.
The expected trading range for today is between 1.3550 support and 1.3710 resistance.
The expected trend for today: Bullish