Silver price attacks the support - Analysis - 01-06-2022
Silver price provided additional negative trades yesterday to press on the key support that declines now to 21.55, which hints heading to cancel the positive pattern mentioned in our recent reports and return to the main bearish track again, but we prefer to monitor the price according to the mentioned level to confirm the next destination clearly.
Note that breaking 21.55 and holding below it will lead the price to continue the decline and achieve negative targets that start at 21.00 and extend to 20.50, while consolidating above it will push the price to resume the bullish trend that targets 22.67 mainly.
The expected trading range for today is between 21.10 support and 21.95 resistance.
The expected trend for today: Neutral
Gold price completes negative pattern – Analysis - 01-06-2022
Gold price continued its negative pressure to break 1838.10 level and close the daily candlestick below it, to complete forming double top pattern that we expect to push the price to achieve more decline on the intraday basis, to head towards testing 1810.00 followed by 1780.00 levels as next main targets.
Therefore, the bearish bias will remain suggested in the upcoming sessions, noting that breaching 1850.00 will stop the current negative pressure and lead the price to rise again.
The expected trading range for today is between 1815.00 support and 1850.00 resistance.
The expected trend for today: Bearish
The USDCAD awaits more decline – Analysis - 01-06-2022
The USDCAD pair provided negative trades yesterday to approach our extended target at 1.2605, and we expect the continuation of the negative pressure in the upcoming sessions, noting that breaking the mentioned level will extend the bearish wave to reach 1.2500 followed by 1.2460 levels as next negative stations.
Therefore, the bearish trend scenario will remain valid on the intraday and short term basis unless the price managed to breach 1.2695 and hold above it.
The expected trading range for today is between 1.2570 support and 1.2700 resistance.
The expected trend for today: Bearish
The USDJPY keeps rising – Analysis - 01-06-2022
The USDJPY pair shows additional positive trades to touch 129.00 level now, reinforcing the expectations of continuing the bullish trend, which targets 130.00 followed by 131.35 levels as next main stations.
Stochastic current negativity might cause some temporary sideways fluctuation before resuming the expected rise, which will remain valid conditioned by the price stability above 127.40.
The expected trading range for today is between 128.50 support and 129.70 resistance
The expected trend for today: Bullish