Silver price awaits more rise - Analysis - 26-05-2022
Silver price fluctuates around the support base 21.83, and the EMA50 forms continuous support to the price, accompanied by witnessing positive signals through stochastic, to support the chances of resuming the expected bullish trend in the upcoming period, affected by the inverted head and shoulders’ pattern, which has positive targets that start at 22.67 and extend to 23.15.
On the other hand, we should note that breaking 21.65 will stop the positive scenario and press on the price to return to the main bearish track again.
The expected trading range for today is between 21.60 support and 22.30 resistance.
The expected trend for today: Bullish
Gold price tests the support – Analysis - 26-05-2022
Gold price faced negative pressure in the previous sessions to test the key support 1850.00, noticing that the price consolidates above this support, as the EMA50 protects the recently suggested positive scenario, while stochastic begins to provides positive overlapping signals now.
Therefore, these factors encourage us to suggest the bullish bias in the upcoming sessions, waiting to visit 1890.00 level as a next main station, noting that breaking 1850.00 followed by 1838.10 levels will stop the expected rise and press on the price to turn to decline.
The expected trading range for today is between 1835.00 support and 1880.00 resistance.
The expected trend for today: Bullish
The USDCAD attempts to breach – Analysis - 26-05-2022
The USDCAD pair continues to fluctuate around 1.2840 level, and attempted to breach it in the previous sessions, but it consolidates below it now, which keeps the bearish trend scenario active on the intraday basis, waiting to head towards 1.2770 as a next negative station.
On the other hand, we should note that breaching 1.2840 and holding above it will lead the price to attempt to regain the main bullish trend, to head towards achieving positive targets that start by visiting 1.2930 areas.
The expected trading range for today is between 1.2750 support and 1.2880 resistance.
The expected trend for today: Bearish
The USDJPY negotiates the resistance – Analysis - 26-05-2022
The USDJPY pair trades positively to test the first key resistance at 127.40, keeping its stability below it until now, accompanied by witnessing clear overbought signals through stochastic, waiting to motivate the price to resume the correctional bearish trend, which targets 125.00 level as a next main station.
Therefore, the negative scenario will remain valid for the upcoming period unless breaching 127.40 followed by 128.20 levels and holding above them.
The expected trading range for today is between 126.70 support and 127.90 resistance
The expected trend for today: Bearish