Silver price attempts positively - Analysis - 07-04-2021
Silver price provided positive trades yesterday to move above 25.50 barrier, noticing that stochastic provides negative signals that we are waiting to motivate the price to resume the expected bearish trend for the upcoming period, which targets 22.90 level as a next main station.
In general, the bearish trend scenario will remain valid and active on the intraday and short term basis unless breaching 25.50 level and holding above it.
The expected trading range for today is between 24.40 support and 25.50 resistance.
The expected trend for today: Bearish
Gold price needs the positive momentum – Analysis - 07-04-2021
Gold price shows some slight bearish bias, affected by stochastic negativity that appears clearly on the four hours’ time frame, waiting to gather enough positive momentum to push the price to continue the expected bullish trend for the upcoming period, which targets 1765.00 as a next station.
The EMA50 continues to support the price from below, to keep our bullish overview conditioned by the price stability above 1723.00 and the most important above 1706.00.
The expected trading range for today is between 1720.00 support and 1760.00 resistance.
The expected trend for today: Bullish
The USDCAD crawls upwards – Analysis - 07-04-2021
The USDCAD pair shows positive trades to reach the thresholds of 1.2600 barrier, reinforcing the expectations of continuing the bullish trend, which its main target located at the resistance line that declines now to 1.2680.
Therefore, we suggest the continuation of the domination of the intraday bullish trend unless breaking 1.2525 level and holding below it.
The expected trading range for today is between 1.2525 support and 1.2650 resistance.
The expected trend for today: Bullish
The USDJPY exits the channel – Analysis - 07-04-2021
The USDJPY pair broke the bullish channel’s support line clearly and settled below it, which puts the price under expected negative pressure in the upcoming sessions, targeting testing 109.22 level initially, noting that breaking this level will extend the bearish wave to reach 108.40 as a next station.
Therefore, the bearish bias will be expected for today unless the price managed to breach 110.15 level and hold above it.
The expected trading range for today is between 109.00 support and 110.15 resistance
The expected trend for today: Bearish