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Silver gathers the positive momentum – Analysis - 22-01-2018
Silver price continues to fluctuate within sideways track, settling around 17.00, noticing that stochastic gains the positive momentum gradually to approach the oversold areas, waiting to motivate the price to provide positive trades in the upcoming sessions.
In general, we will continue to suggest the bullish trend as long as 16.55 level remains intact, reminding you that our main targets begin at 17.43 and extend to 18.30 after breaching the previous level.
Expected trading range for today is between 16.85 support and 17.30 resistance.
Expected trend for today: Bullish
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Gold completes positive pattern – Analysis - 22-01-2018
The above chart shows that Gold price managed to breach minor bearish channel that forms bullish flag pattern, which provides positive motive that we are waiting to assist to push the price to continue the main bullish trend, as our next main target is located at 1357.50.
MoreUSDCAD within continuation pattern – Analysis - 22-01-2018
The USDCAD pair provided positive trading in the previous sessions to breach 1.2470 level and settles above it, but we notice that the recent trades are confined inside bearish pennant pattern that appears on the chart, and the price moves at this pattern’s resistance accompanied by stochastic entering the overbought areas, which forms negative factor that we expect to push the price to decline again.
MoreUSDJPY tests the resistance – Analysis - 22-01-2018
The USDJPY pair approaches to test the key resistance 111.00 now, which represents the meeting point of the bearish channel’s resistance with 50% Fibonacci correction level, noticing that the EMA50 meets this level to add more strength to it, while stochastic loses its positive momentum gradually.
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