Silver price retests the broken neckline - Analysis - 15-09-2021
Silver price retested the broken neckline of the head and shoulders’ pattern and still below it, to keep the negative effect of this pattern active, waiting to resume the bearish trend that targets 22.90 as a next main station.
The EMA50 and stochastic provide negative signals that support the expected decline, which will remain valid unless breaching 23.80 – 23.95 levels and holding above them.
The expected trading range for today is between 23.20 support and 24.00 resistance.
The expected trend for today: Bearish
Gold price breaches the resistance – Analysis - 15-09-2021
Gold price breached 1797.00 level clearly and ended yesterday above it, which leads the price to turn to rise and achieve expected gains on the intraday basis, on its way to visit 1825.15 initially.
Therefore, the bullish bias will be suggested for today, supported by moving above the EMA50, noting that breaking 1797.00 will stop the expected rise and press on the price to decline again.
The expected trading range for today is between 1790.00 support and 1825.00 resistance.
The expected trend for today: Bullish
The USDCAD rebounds from the first target – Analysis - 15-09-2021
The USDCAD pair touched our first waited target at 1.2600 yesterday and bounced upwards strongly to test 1.2700 barrier, noticing that stochastic lost its positive momentum clearly, to support the chances of resuming the expected bearish trend for the upcoming period, which its targets extend to reach 1.2495.
Therefore, the negative scenario will remain valid and active unless we witnessed clear breach to 1.2720 and hold with a daily close above it.
The expected trading range for today is between 1.2620 support and 1.2750 resistance.
The expected trend for today: Bearish
The USDJPY breaks the support – Analysis - 15-09-2021
The USDJPY pair traded with clear negativity yesterday to break 109.75 level and settles below it, which puts the price under expected negative pressure on the intraday basis, targeting testing 109.20 level mainly.
Therefore, the bearish bias will be suggested for today unless the price managed to breach 110.00 and hold above it, being aware that we need to monitor the price behavior when reaching the targeted level, due to its importance to determine the next trend.
The expected trading range for today is between 109.00 support and 110.00 resistance
The expected trend for today: Bearish