Silver price awaits the breach - Analysis - 21-06-2022
Silver price shows weak trades since yesterday, attempting to provide some bullish bias by today’s open, to support the continuation of the recently suggested bullish trend scenario, which depends on the formation of the inverted head and shoulders’ pattern that has positive targets that start at 22.67.
Therefore, we will continue to suggest the bullish trend for the upcoming period unless breaking 21.45 and holding below it.
The expected trading range for today is between 21.45 support and 22.20 resistance.
The expected trend for today: Bullish
Gold price shows weak trades – Analysis - 21-06-2022
Gold price fluctuates within tight range since yesterday, hovering around the EMA50, and as long as the price is above 1830.00, the bullish trend scenario will remain active for the upcoming period, supported by stochastic positivity, depending on the formation of the higher lows that was formed recently, waiting to breach 1850.00 to confirm rallying towards our positive targets that start at 1890.00 and extend to 1925.35.
The expected trading range for today is between 1825.00 support and 1870.00 resistance.
The expected trend for today: Bullish
The USDCAD approaches the target – Analysis - 21-06-2022
The USDCAD pair keeps declining to approach our waited negative target at 1.2930, and we expect the continuation of the negative pressure to surpass this level and open the way to extend the bearish wave on the intraday and short term basis, to head towards achieving negative targets that reach 1.2840.
Therefore, the bearish trend scenario will remain active, taking into consideration that failing to break 1.2930 will lead the price to attempt to return to the main bullish track again.
The expected trading range for today is between 1.2870 support and 1.3000 resistance.
The expected trend for today: Bearish
The USDJPY within tight track – Analysis - 21-06-2022
The USDJPY pair didn’t show any strong move since yesterday, to fluctuate within tight track around 135.00, thus, no change to the bearish trend scenario that depends on the price stability below 135.60, waiting to get negative motive that assist to push the price to head towards our main expected target at 133.50.
The expected trading range for today is between 134.30 support and 135.60 resistance
The expected trend for today: Bearish