Midday update for Gold 22-05-2020
Gold price shows positive trades now to approach testing the key resistance 1743.00, which represents one of the next trend keys besides 1725.90 support, and as we mentioned this morning, the price needs to breach one of these levels to detect its next destination clearly, which keeps our neutrality valid until now.
To review the expected targets after the breach, please check our morning report.
The expected trading range for today is between 1710.00 support and 1750.00 resistance.
The expected trend for today: Depends on the above mentioned levels
Midday update for the GBPUSD 22-05-2020
The GBPUSD pair resumed its negative trades to head towards our main waited target at 1.2093, supported by the negative overlapping signal provided now by stochastic, waiting for more decline in the upcoming sessions, noting that the EMA50 supports the suggested decline, which its continuation conditions holding below 1.2304.
The expected trading range for today is between 1.2100 support and 1.2250 resistance.
The expected trend for today: Bearish
Midday update for the EURUSD 22-05-2020
The EURUSD pair trades with clear negativity to start testing the EMA50, waiting to surpass this barrier to ease the mission of heading towards our waited negative target at 1.0840.
Therefore, our bearish overview will remain valid for the rest of the day, noting that breaking the mentioned level will extend the bearish wave to reach 1.0700 as a next station, while the expected decline will remain valid unless breaching 1.0966 and holding above it.
The expected trading range for today is between 1.0840 support and 1.1000 resistance.
The expected trend for today: Bearish
The CADJPY moves away from the resistance – Analysis – 22-5-2020
The CADJPY pair touched the bearish channel’s resistance at 77.81 recently, to form solid obstacle against the attempts to change the bearish track and force the price to decline towards 76.55, also, stochastic begins to form negative waves to support the continuation of the negativity by providing the negative momentum and allow the price the chance to record many negative targets by moving towards 76.10 and 75.35 in the near term and medium term period.
The expected trading range for today is between 77.35 and 76.10
The expected trend for today: Bearish