Silver price faces new negative pressure - Analysis - 30-01-2023
Silver price returned to rise after the decline that it witnessed in the previous sessions, supported by stochastic positivity, waiting to breach 23.80 resistance line to ease the mission of heading towards our first waited positive target at 24.55.
Therefore, we will continue to suggest the bullish trend for the upcoming period, reminding you that breaking 23.55 will put the price under additional negative pressure to test 23.05 level before any new positive attempt.
The expected trading range for today is between 23.30 support and 24.15 resistance.
The expected trend for today: Bullish
Gold price loses momentum – Analysis - 30-01-2023
Gold price fluctuates around 1928.60 level, noticing that stochastic loses its positive momentum gradually, waiting to motivate the price to resume the expected bearish bias on the intraday basis, which targets testing the bullish channel’s support line that rises now to 1908.40.
Therefore, we will continue to suggest the temporary bearish trend, taking into consideration that breaching 1936.00 will stop the expected decline and lead the price to resume the main bullish trend again.
The expected trading range for today is between 1908.00 support and 1940.00 resistance.
The expected trend for today: Bearish temporarily
The USDCAD awaits more decline – Analysis - 30-01-2023
The USDCAD pair shows additional negative trades to move away gradually from 1.3350 level, reinforcing the expectations of continuing the bearish trend on the intraday and short term basis, organized inside bearish channel that supports the chances of heading towards our next negative station at 1.3205.
Therefore, we will continue to suggest the bearish trend for the upcoming period conditioned by the price stability below 1.3350.
The expected trading range for today is between 1.3240 support and 1.3385 resistance.
The expected trend for today: Bearish
The USDJPY around the moving average – Analysis - 30-01-2023
The USDJPY pair shows sideways in the previous sessions, to fluctuate around the EMA50, and continues to move within the main bearish channel, waiting to resume the bearish wave that its targets begin by breaking 128.90 to rally towards 127.20 as a next negative station.
In general, the bearish trend scenario will remain active conditioned by the price stability below 130.50.
The expected trading range for today is between 128.70 support and 130.50 resistance
The expected trend for today: Bearish