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Silver price consolidates below the resistance - Analysis - 19-10-2022
Silver price continues to move around 18.80 level, and still below it until now, which encourages us to keep our bearish overview for the upcoming period, waiting to visit 18.00 followed by 17.55 levels as next main targets.
The EMA50 continues to support the suggested bearish wave, noting that breaching 18.80 will push the price to achieve new gains that target testing 19.27 initially before any new attempt to decline.
The expected trading range for today is between 18.10 support and 19.00 resistance.
The expected trend for today: Bearish
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Gold price awaits more decline – Analysis - 19-10-2022
Gold price fluctuates around the bearish channel’s resistance line, crawling gradually to the downside, while the EMA50 continues to press negatively on the price, to keep the bearish trend scenario valid and active for the upcoming period, waiting to visit 1630.00 followed by 1615.00 levels as next main targets.
Holding below 1660.00 is important to continue the expected decline, as breaching it will push the price to achieve new bullish correction that might target 1686.40 areas initially before any new negative attempt.
The expected trading range for today is between 1625.00 support and 1665.00 resistance.
The expected trend for today: Bearish
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The USDCAD attempts to recover – Analysis - 19-10-2022
The USDCAD pair traded with clear positivity yesterday to retest the broken support of the bullish channel, as it kept its stability below it, to keep the correctional bearish scenario valid for the upcoming period, supported by stochastic current negativity that we are waiting to motivate the price to break 1.3680 to confirm extending the bearish wave towards 1.3500.
Therefore, we will continue to suggest the bearish trend for the upcoming period unless breaching the resistance line that rises now to 1.3820 and holding above it.
The expected trading range for today is between 1.3650 support and 1.3800 resistance.
The expected trend for today: Bearish
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The USDJPY achieves more gains – Analysis - 19-10-2022
The USDJPY pair managed to surpass 149.00 level and closed the daily candlestick above it, reinforcing the expectations of continuing the bullish trend on the short term and medium term basis, noting that we are waiting to visit 150.00 barrier as a next main target.
Holding above 148.30 represents key condition to continue the expected rise, reminding you that the BOJ might intervene at any moment to protect the Japanese Yen, which might cause high volatility and sudden sharp declines.
The expected trading range for today is between 148.50 support and 150.00 resistance
The expected trend for today: Bullish
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