Silver price reaches the target - Analysis - 04-05-2021
Silver price succeeded to reach our waited target at 27.00 and settles near it, as it managed to return to the bullish channel that appears on the chart, waiting for more rise to visit 27.80 that represents our next positive station.
The EMA50 supports the price from below, to continue suggesting the bullish trend for the upcoming period conditioned by the price stability above 26.40.
The expected trading range for today is between 26.40 support and 27.50 resistance.
The expected trend for today: Bullish
Gold price approaches the first target – Analysis - 04-05-2021
Gold price settles near 1800.00 barrier after the strong rise that it witnessed yesterday, showing sideways trades now affected by stochastic negativity, waiting to get enough positive momentum to push trades to continue the main bullish trend, which its next target reach 1838.00.
Therefore, we will continue to suggest the bullish trend for the upcoming period, noting that breaking 1785.00 will press on the price to decline and test 1765.00 areas before any new attempt to rise.
The expected trading range for today is between 1780.00 support and 1810.00 resistance.
The expected trend for today: Bullish
The USDCAD within sideways track – Analysis - 04-05-2021
The USDCAD pair fluctuates within sideways track recently, and it needs to break 1.2270 to confirm the continuation of the main bearish trend, which target 1.2210 as a next station.
Until now, we still suggest the domination of the bearish trend on the intraday and short term basis conditioned by the price stability below 1.2365, noting that surpassing the mentioned target will extend the bearish wave to reach 1.2100 on the near term basis.
The expected trading range for today is between 1.2200 support and 1.2320 resistance.
The expected trend for today: Bearish
The USDJPY under the negative pressure – Analysis - 04-05-2021
The USDJPY pair faced clear negative pressure yesterday to break 109.22 level and settle at the intraday bullish channel’s support line that appears on the chart, accompanied by stochastic reach to the oversold areas, while the EMA50 provides the positive support to the price.
Therefore, we believe that the chances valid to resume yesterday’s suggested bullish trend, which depends on the price stability above 108.80, while our next main target is located at 110.00.
The expected trading range for today is between 108.60 support and 109.80 resistance
The expected trend for today: Bullish