Silver price needs strong positive motive - Analysis - 27-07-2022
Silver price hovers around 18.60 level, and faces strong intraday resistance formed by the EMA50 now around 18.70, waiting to get positive motive that assist to push the price to surpass this level and open the way to head towards 19.00 followed by 19.60 levels as next main targets.
Therefore, we will continue to suggest the bullish trend unless breaking 18.30 and holding below it.
The expected trading range for today is between 18.30 support and 19.00 resistance.
The expected trend for today: Bullish
Gold price crawls downwards – Analysis - 27-07-2022
Gold price shows negative trades since yesterday to break 1720.00 level and settles below it, which hints heading to decline again, but we prefer to stay aside until we get clearer signal for the next trend, which we will get through breaking 1712.00 or breaching 1726.60 resistance.
Note that breaking the mentioned support will press on the price to achieve more decline and return to the main bearish track that its next target located at 1680.00, while breaching the resistance represents the key to resume the correctional bullish wave that targets 1755.70 as a next positive station.
The expected trading range for today is between 1695.00 support and 1735.00 resistance.
The expected trend for today: Neutral
The USDCAD gets a negative signal – Analysis - 27-07-2022
The USDCAD pair provided positive trades yesterday to move above 1.2870, but we notice that the EMA50 formed good resistance against the price, to decline again and settles below the mentioned level now, and stochastic begins to overlap negatively and motivates the price to provide more negative trades in the upcoming sessions, waiting to head towards 1.2790 as a next negative target.
Therefore, we will continue to suggest the bearish trend for the upcoming period, noting that failing to consolidate below 1.2870 will lead the price to achieve new gains and test 1.2950 areas before any new attempt to decline.
The expected trading range for today is between 1.2780 support and 1.2920 resistance.
The expected trend for today: Bearish
The USDJPY retests the neckline – Analysis - 27-07-2022
The USDJPY pair shows bullish bias to retest the broken neckline of the double top pattern at 137.30, accompanied by stochastic loss to the positive momentum, while the EMA50 meets the mentioned level to add more strength to this resistance.
Therefore, these factors encourage us to continue suggesting the domination of the correctional bearish trend for the upcoming sessions, and the targets begin by surpassing 136.40 to open the way to head towards 135.25 followed by 134.55, reminding you that it is important to hold below 137.30 to achieve these targets.
The expected trading range for today is between 136.10 support and 137.50 resistance
The expected trend for today: Bearish