Gold price tests the support – Analysis - 26-05-2022
Gold price faced negative pressure in the previous sessions to test the key support 1850.00, noticing that the price consolidates above this support, as the EMA50 protects the recently suggested positive scenario, while stochastic begins to provides positive overlapping signals now.
Therefore, these factors encourage us to suggest the bullish bias in the upcoming sessions, waiting to visit 1890.00 level as a next main station, noting that breaking 1850.00 followed by 1838.10 levels will stop the expected rise and press on the price to turn to decline.
The expected trading range for today is between 1835.00 support and 1880.00 resistance.
The expected trend for today: Bullish
The USDCAD attempts to breach – Analysis - 26-05-2022
The USDCAD pair continues to fluctuate around 1.2840 level, and attempted to breach it in the previous sessions, but it consolidates below it now, which keeps the bearish trend scenario active on the intraday basis, waiting to head towards 1.2770 as a next negative station.
On the other hand, we should note that breaching 1.2840 and holding above it will lead the price to attempt to regain the main bullish trend, to head towards achieving positive targets that start by visiting 1.2930 areas.
The expected trading range for today is between 1.2750 support and 1.2880 resistance.
The expected trend for today: Bearish
The USDJPY negotiates the resistance – Analysis - 26-05-2022
The USDJPY pair trades positively to test the first key resistance at 127.40, keeping its stability below it until now, accompanied by witnessing clear overbought signals through stochastic, waiting to motivate the price to resume the correctional bearish trend, which targets 125.00 level as a next main station.
Therefore, the negative scenario will remain valid for the upcoming period unless breaching 127.40 followed by 128.20 levels and holding above them.
The expected trading range for today is between 126.70 support and 127.90 resistance
The expected trend for today: Bearish
The GBPUSD attempts to breach - Analysis - 26-05-2022
The GBPUSD pair begins today with clear positivity to attempt to breach 1.2590 level, reinforcing the expectations of continuing the bullish trend, paving the way to head towards our next positive target that reaches 1.2725.
Therefore, we will keep our positive overview that gets continuous support by the EMA50, taking into consideration that failing to confirm the breach will press on the price to rebound bearishly and decline to visit 1.2420 areas before detecting the next destination clearly.
The expected trading range for today is between 1.2510 support and 1.2670 resistance.
The expected trend for today: Bullish