Gold price under the negative pressure – Analysis - 27-01-2022
Gold price broke 1825.15 level strongly and ended yesterday below it, which stops the recently suggested positive scenario and lead the price to turn to decline, on its way to test 1797.00 level initially, noting that breaking this level will push the price to 1770.00 as a next negative station.
Therefore, the bearish bias will be suggested in the upcoming sessions unless breaching 1825.15 and holding above it again.
The expected trading range for today is between 1797.00 support and 1825.00 resistance.
The expected trend for today: Bearish
The USDCAD reaches the first target – Analysis - 27-01-2022
The USDCAD pair rallied upwards strongly to reach the thresholds of the first waited target at 1.2725, and we expect to surpass this level to open the way to achieve more gains on the intraday and short term basis, as the next targets reach 1.2810 followed by 1.2950.
The EMA50 continues to support the expected bullish wave, which will remain valid unless breaking 1.2590 and holding below it.
The expected trading range for today is between 1.2650 support and 1.2800 resistance.
The expected trend for today: Bullish
The USDJPY attempts to recover – Analysis - 27-01-2022
The USDJPY pair bounced upwards strongly yesterday after consolidating above 113.60 level, to test the key resistance 114.65 and attempts to breach it, which hints heading to regain the main bullish trend, but it faces negative pressure formed by stochastic, to stay neutral until the price confirms its situation according to the mentioned resistance.
Note that breaching 114.65 will push the price to achieve additional gains that target 116.35 areas on the near term basis, while consolidating below it will press on the price to decline again and visit 113.60 initially.
The expected trading range for today is between 114.00 support and 115.40 resistance
The expected trend for today: Neutral
The GBPUSD breaks the support - Analysis - 27-01-2022
The GBPUSD pair managed to break 1.3460 level and settles below it now, which supports the continuation of the expected bearish trend scenario efficiently in the upcoming sessions, paving the way to achieve more negative targets that start at 1.3400 and extend to 1.3310 after surpassing the previous level.
Therefore, the bearish bias will remain dominant in the upcoming sessions conditioned by the price stability below 1.3530.
The expected trading range for today is between 1.3350 support and 1.3500 resistance.
The expected trend for today: Bearish