Silver price keeps its negative stability - Analysis - 01-12-2021
Silver price retested 23.15 level and kept its stability below it, as it bounced bearishly to resume the expected bearish trend for the upcoming period, organized inside the bearish channel that has negative targets that surpass 22.20 to reach 21.40.
Therefore, we will continue to suggest the bearish trend that gets continuous support by the EMA50 unless breaching 23.15 and holding above it.
The expected trading range for today is between 22.40 support and 23.15 resistance.
The expected trend for today: Bearish
Gold price hits the target – Analysis - 01-12-2021
Gold price succeeded to touch our waited target at 1770.00 and finds solid support there, to show some temporary bullish bias now, and it might test 1785.00 level before turning back to decline again, waiting to break 1770.00 to confirm extending the bearish wave towards 1734.00.
The EMA50 suppports the suggested negative scenario, which will remain valid unless the price rallied to breach 1785.00 followed by 1797.00 levels and hold above them.
The expected trading range for today is between 1760.00 support and 1795.00 resistance.
The expected trend for today: Bearish
The USDCAD achieves clear gains – Analysis - 01-12-2021
The USDCAD pair provided clear positive trades yesterday to reach 1.2835 level, but it bounced bearishly to test 1.2725 level again, and it needs to hold above this level to keep the bullish trend active for the upcoming period, organized inside the bullish channel that appears on the chart.
Therefore, we will continue to suggest the bullish trend on the intraday and short term basis as long as 1.2725 level remains intact, supported by the EMA50, waiting to visit 1.2950 level as a next main target.
The expected trading range for today is between 1.2680 support and 1.2820 resistance.
The expected trend for today: Bullish
The USDJPY attempts to break – Analysis - 01-12-2021
The USDJPY pair attempted to break 113.07 level but it ended yesterday above it, to keep the price stuck between this support and 114.15 resistance, to continue with our neutrality until we get clearer signal for the next trend through breaching one of these levels.
The contradiction between stochastic positivity and the EMA50 negativity provides another reason for neutrality, while the expected targets after the breach are explained in our previous report.
The expected trading range for today is between 113.60 support and 114.10 resistance
The expected trend for today: Depends on the above mentioned levels