Gold price within sideways track – Analysis - 26-01-2021
Gold price continues to fluctuate between 1850.80 support and 1871.55 resistance, which keeps our neutrality until now, and the price needs to surpass one of the mentioned levels to detect the next trend clearly.
Note that breaking the support will press on the price to resume the negative trades and head towards 1820.00 followed by 1800.00 levels as next negative stations, while breaching the resistance will push the price to achieve more bullish correction that targets 1888.30 followed by 1905.05 levels.
The expected trading range for today is between 1840.00 support and 1875.00 resistance.
The expected trend for today: Neutral
The USDCAD begins positively – Analysis - 26-01-2021
The USDCAD pair settled above the intraday bearish channel’s resistance, to activate the bullish trend scenario for the upcoming period, on its way to achieve positive targets that start at 1.2854.
Therefore, the bullish bias will be expected for today supported by moving above the EMA50, noting that the continuation of the bullish wave depends on the price stability above 1.2740 and the most important above 1.2688.
The expected trading range for today is between 1.2700 support and 1.2840 resistance.
The expected trend for today: Bullish
The USDJPY tests the support – Analysis - 26-01-2021
The USDJPY pair tested 103.65 level without managing to break it until now, waiting to get negative motive that supports the chances of confirming the break to rally towards 102.50 that represents our next negative station.
In general, we will continue to suggest the bearish trend for the upcoming period unless breaching 103.90 level and holding above it.
The expected trading range for today is between 103.00 support and 104.40 resistance
The expected trend for today: Bearish
The GBPUSD draws negative pattern - Analysis - 26-01-2021
The GBPUSD pair could not manage to hold above 1.3700, to rebound bearishly and approach the key support 1.3645 now, noticing that the price draws negative pattern that its confirmation level located at the mentioned support, thus, breaking it will press on the price to turn to decline and achieve negative targets that start at 1.3590 and extend to 1.3530.
Therefore, the bearish bias will be suggested for today unless breaching 1.3710 and holding above it.
The expected trading range for today is between 1.3550 support and 1.3730 resistance.
The expected trend for today: Bearish