Silver price surpasses the target - Analysis - 21-10-2021
Silver price rallied upwards strongly to breach 24.20 and settles above it, confirming the extension of the correctional bullish wave on the intraday and short term basis, paving the way to head towards 25.05 that represents our next main target.
Therefore, we expect to witness more rise in the upcoming sessions, affected by the inverted head and shoulders’ pattern that its its signs appear on the chart, noting that holding above 24.20 represents initial condition to continue the expected rise.
The expected trading range for today is between 24.00 support and 25.00 resistance.
The expected trend for today: Bullish
Gold price crawls upwards – Analysis - 21-10-2021
Gold price continues to rise to approach gradually from our waited target at 1797.00, getting continuous support by the EMA50, noting that surpassing this level will extend the bullish wave to reach 1825.15 as a next positive station.
Stochastic current negativity might cause some temporary sideways fluctuation before resuming the positive trades, to keep the bullish trend suggested unless breaking 1770.00 and holding below it.
The expected trading range for today is between 1770.00 support and 1800.00 resistance.
The expected trend for today: Bullish
The USDCAD resumes the decline – Analysis - 21-10-2021
The USDCAD pair resumes its negative trades clearly to move away from 1.2365, reinforcing the expectations of continuing the bearish trend, which gets continuous support by the EMA50 that presses negatively on the price, and the way is open to achieve our waited target at 1.2230.
On the other hand, we should note that breaching 1.2365 will stop the negative scenario and lead the price to start recovery attempts on the intraday and short term basis.
The expected trading range for today is between 1.2225 support and 1.2350 resistance.
The expected trend for today: Bearish
The USDJPY gets a new positive signal – Analysis - 21-10-2021
The USDJPY pair faced temporary negative pressure yesterday to test the key support 114.10 and keeps its stability above it, as it begins to provide positive trades now, noticing that stochastic provides positive overlapping signal on the hour hours’ time frame, waiting to motivate the price to resume the main bullish trend, which its next main targets located at 115.00 followed by 115.55.
Therefore, we will continue to suggest the bullish trend for the upcoming period unless breaking 114.10 and holding below it.
The expected trading range for today is between 113.90 support and 115.00 resistance
The expected trend for today: Bullish