Silver price continues to fluctuate - Analysis - 17-08-2022
Silver price didn’t show any strong move in the previous sessions, and continues to move at 20.00 level, thus, no change to the bullish trend scenario that depends on the price stability above this level, waiting to get positive motive that assists to push the price to resume the bullish wave that targets 21.20 mainly.
The expected trading range for today is between 19.80 support and 20.60 resistance.
The expected trend for today: Bullish
Gold price breaks the support – Analysis - 17-08-2022
Gold price ended yesterday below 1779.25 level, to fall under expected negative pressure in the upcoming sessions, targeting visiting 1755.25 mainly.
Therefore, the bearish bias will be suggested for today supported by moving below the EMA50, noting that breaching 1779.25 and holding above it again will lead the price to resume the bullish wave that its next target located at 1802.0.
The expected trading range for today is between 1755.00 support and 1790.00 resistance.
The expected trend for today: Bearish
The USDCAD under the negative pressure – Analysis - 17-08-2022
The USDCAD pair faced strong negative pressure to break 1.2870 and settles below it, which pushes the price to attempt to return to the correctional bearish track again, but we notice that the technical indicators provide positive signals that might assist to push the price to rise again.
Therefore, the contradiction between the technical indicators makes us prefer to stay aside until the price confirms breaching 1.2870 resistance or breaking 1.2780 support, noting that breaching this resistance will reactivate the positive scenario that its next target located at 1.2955, while breaking the support represents negative factor that will press on the price to decline towards 1.2685 areas as a next negative station.
The expected trading range for today is between 1.2780 support and 1.2935 resistance.
The expected trend for today: Neutral
The USDJPY hits the target – Analysis - 17-08-2022
The USDJPY pair succeeded to achieve our waited target at 134.50 and found solid resistance there, to show some temporary bearish bias, affected by stochastic negativity, noticing that the price trades above the breached intraday resistance that appears on the chart, waiting to resume the bullish bias to surpass the mentioned level and open the way to head towards 135.50 as a next positive station.
Therefore, we expect the continuation of the bullish trend domination, noting that breaking 133.90 will stop the suggested rise and press on the price to decline again.
The expected trading range for today is between 133.50 support and 135.00 resistance
The expected trend for today: Bullish