Natural gas price postpones the decline – Analysis – 11-8-2022
Natural gas price failed to break the additional support at 7.600, to form an obstacle against the negative attempts, which interprets the current correctional bullish rally and touch 8.300.
On the other hand, the continuous fluctuation above 8.110 will increase the chances of resuming the correctional bullish attack to expect moving towards 8.600 followed by reaching 8.900, while crawling below 8.110 and getting negative close will form new factor to confirm the bearish track and manage to renew the pressure on the mentioned support in order to find a way to resume the decline in the upcoming period.
The expected trading range for today is between 8.600 and 8.100
The expected trend for today: Bearish
Nikkei index confirms the positivity – Analysis – 11-8-2022
Nikkei index provided more positive waves recently to settle above 28140, confirming surrendering to the domination of the previously suggested bullish bias, reminding you that the bullish scenario depends on the stability of the key support at 27380, in addition to the positive momentum coming by the major indicators, to notice the consolidation of stochastic within the overbought areas.
These factors will assist to renew the bullish attempts, to expect rallying towards 28550 level soon, while the continuous positive pressures might push the price to reach the next main target at 28950.
The expected trading range for today is between 27900 and 28550
The expected trend for today: Bullish
The EURJPY fluctuates near the support – Analysis – 11-8-2022
The EURJPY pair touched the additional support at 136.65 yesterday, affected by the continuous contradiction between the major indicators, hinting postponing of the bullish attack temporarily, while the stability of trades above the current trades will increase the chances of renewing the bullish attempts, to expect targeting 138.55 followed by 139.00 levels.
On the other hand, surrendering to stochastic negativity and crawling below the current support will force it to renew the correctional bearish attempts, to suffer new losses by declining towards 135.55 and 134.20 levels.
The expected trading range for today is between 136.60 and 138.00
The expected trend for today: Bullish
The GBPJPY suffers some losses – Analysis – 11-8-2022
The GBPJPY pair activated the correctional bearish track by settling frequently below 163.40 obstacle, to achieve the previously suggested negative targets by moving towards the moving average 55 located near 161.80.
In case the moving average 55 consolidated and formed additional support that will assist to renew the bullish attempts, to expect renewing the pressure on the mentioned obstacle, while surpassing it will push the price to target many positive stations by reaching 164.05 and 164.75 levels.
The expected trading range for today is between 161.80 and 163.60
The expected trend for today: Bullish