Silver price needs negative motive - Analysis - 24-09-2021
Silver price crawls downwards gradually, falling under continuous negative pressure coming by the EMA50, waiting for more decline to visit 22.30 followed by 21.65 levels as main negative stations.
In general, we will continue to suggest the bearish trend, affected by the previously completed head and shoulders’ pattern, unless breaching 22.90 level and holding above it.
The expected trading range for today is between 22.10 support and 22.90 resistance.
The expected trend for today: Bearish
Gold price approaches the target – Analysis - 24-09-2021
Gold price declined strongly yesterday to approach our main waited target at 1735.00, attempting to achieve some temporary intraday gains now, but it faces negative pressure coming by the EMA50, to support the continuation of the decline in the upcoming sessions.
Therefore, the overall negative scenario will remain valid and active unless the price rallied to breach 1770.00 and hold above it, noting that breaking 1735.00 will open the way to extend the bearish wave towards 1692.00.
The expected trading range for today is between 1725.00 support and 1770.00 resistance.
The expected trend for today: Bearish
The USDCAD under the negative pressure – Analysis - 24-09-2021
The USDCAD pair traded with strong negativity yesterday to break 1.2720 and turns to decline, as we expect to face additional negative pressures in the upcoming sessions to head towards 1.2600 as a next main station.
Therefore, the bearish bias will be suggested for today, taking into consideration that breaching 1.2720 followed by 1.2775 levels will stop the current negative pressure and push the price to recover again.
The expected trading range for today is between 1.2590 support and 1.2720 resistance.
The expected trend for today: Bearish
The USDJPY achieves clear gains – Analysis - 24-09-2021
The USDJPY pair resumed its bullish rally to reach 110.40 now, which supports the continuation of the bullish trend scenario on the intraday and short term basis, which targets 111.00 as a next station, noting that breaching this level will push the price to 111.70.
The EMA50 continues to support the expected rise, noting that it is important to hold above 109.80 as a first condition to continue the suggested positive scenario.
The expected trading range for today is between 109.80 support and 111.20 resistance
The expected trend for today: Bullish