Silver price needs strong positive motive - Analysis - 25-01-2023
The EMA50 formed solid resistance against Silver price attempts to rise, to show some slight bearish bias, affected by stochastic negativity, waiting to get positive motive that assists to push the price to resume the bullish wave that targets 24.00 followed by 24.55 levels as next main stations.
In general, the bullish trend scenario will remain valid unless breaking 23.05 and holding below it.
The expected trading range for today is between 23.20 support and 24.00 resistance.
The expected trend for today: Bullish
Gold price faces new negative pressures – Analysis - 25-01-2023
Gold price faced new negative pressures yesterday to attack 1925.00 level, but it bounced bullishly to end the session above the bullish channel’s support line, to keep the chances valid to continue the main bullish trend, which its next target located at 1950.00.
The EMA50 continues to support the suggested bullish wave, noting that breaking 1928.00 followed by 1921.00 will stop the expected rise and press on the price to start bearish correction on the intraday basis.
The expected trading range for today is between 1915.00 support and 1950.00 resistance.
The expected trend for today: Bullish
The USDCAD awaits the break – Analysis - 25-01-2023
The USDCAD pair continues to fluctuate at the key support 1.3350 and attempts to break it, waiting for more decline to visit 1.3205 areas on the near term basis.
Therefore, the bearish trend scenario will remain active on the intraday and short term basis, noting that it is important to hold below 1.3415 as a first condition to continue the expected decline.
The expected trading range for today is between 1.3270 support and 1.3410 resistance.
The expected trend for today: Bearish
The USDJPY settles above the resistance – Analysis - 25-01-2023
The USDJPY pair settles above the breached resistance that appears on the chart, getting positive support by the technical indicators, to head towards building expected bullish wave in the upcoming sessions, targeting 131.50 followed by 133.30 levels as main positive stations.
Therefore, the bullish bias will be expected for today, taking into consideration that breaking 129.70 will stop the suggested rise and press on the price to turn to decline again.
The expected trading range for today is between 129.70 support and 131.40 resistance
The expected trend for today: Bullish