Silver price completes the negative pattern - Analysis - 22-03-2021
Silver price broke the rising wedge’s support line strongly, to reach the first waited target at 25.50, waiting to break this level to confirm extending the bearish wave towards 24.55 that represents the next negative station.
Therefore, the bearish trend scenario will remain active for the upcoming period supported by the EMA50, taking into consideration that the continuation of the bearish wave requires holding below 26.75.
The expected trading range for today is between 25.00 support and 26.40 resistance.
The expected trend for today: Bearish
Gold price breaches the resistance – Analysis - 22-03-2021
Gold price confirmed breaching 1739.50 level after closing the daily candlestick above it, and despite today’s negative open, the price begins to rebound bullishly after leaning on the intraday bullish channel’s support line, which support the continuation of the positive trading in the upcoming period.
Therefore, the bullish trend will be expected for today, and the first target is located at 1765.00, noting that breaking 1734.00 will stop the expected rise and press on the price to return to the main bearish track again.
The expected trading range for today is between 1725.00 support and 1765.00 resistance.
The expected trend for today: Bullish
The USDCAD continues to rise – Analysis - 22-03-2021
The USDCAD pair provided additional positive trades to move above 1.2500 level, to support the expectations of continuing the intraday bullish trend, which its next target located at 1.2575, noting that surpassing this level will extend the bullish wave to reach 1.2730 on the near term basis.
On the other hand, we should note that breaking 1.2430 will stop the expected rise and press on the price to resume the main bearish trend again.
The expected trading range for today is between 1.2450 support and 1.2580 resistance.
The expected trend for today: Bullish
The USDJPY crawls downwards – Analysis - 22-03-2021
The USDJPY pair shows calm negative trades to start pressing on 108.65 level, which support the continuation of the expected bearish trend scenario for the upcoming period, which targets visiting 107.70 level mainly.
Holding below 109.22 is important to continue the expected decline, as breaching it will lead the price to resume the bullish wave and achieve new gains that reach 110.30.
The expected trading range for today is between 108.00 support and 109.20 resistance
The expected trend for today: Bearish