Silver price hits the first target - Analysis - 02-12-2021
Silver price succeeded to achieve our first waited target at 22.20 after the strong decline that it witnessed yesterday, and continues to move inside the bearish channel that supports the chances of heading towards the previously recorded low at 21.40 as a next main target.
Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that breaching 22.70 will push the price to test 23.15 areas again before any new attempt to decline.
The expected trading range for today is between 21.80 support and 22.70 resistance.
The expected trend for today: Bearish
Gold price declines calmly – Analysis - 02-12-2021
Gold price shows calm negative trades to approach gradually from 1770.00 level, to keep the bearish trend scenario active on the intraday basis, expecting to surpass this level to open the way to achieve negative targets that extend to 1734.00.
The EMA50 keeps pressing negatively on the price to support the expectations of achieving more decline, reminding you that it is important to hold below 1797.00 to achieve the suggested targets.
The expected trading range for today is between 1755.00 support and 1790.00 resistance.
The expected trend for today: Bearish
The USDCAD resumes the bullish rally – Analysis - 02-12-2021
The USDCAD pair rallied upwards strongly after leaning on 1.2725 level, reinforcing the expectations of continuing the main bullish trend, which targets 1.2950 as a next main station.
The EMA50 keeps supporting the suggested bullish wave, reminding you that it is important to hold above 1.2725 to achieve the waited targets.
The expected trading range for today is between 1.2750 support and 1.2900 resistance.
The expected trend for today: Bullish
The USDJPY breaks the support – Analysis - 02-12-2021
The USDJPY pair broke 113.07 level again and closed the daily candlestick below it, to head towards achieving more expected bearish correction on the intraday basis, targeting testing 112.30 level as a next station.
Therefore, the bearish bias will be suggested for the upcoming period, taking into consideration that breaching 113.07 and holding above it will stop the expected negative pressure and push the price to attempt to regain the main bullish trend again.
The expected trading range for today is between 112.30 support and 113.60 resistance
The expected trend for today: Bearish