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The AUDCAD prepares to the bullish attack – Analysis – 20-5-2020
The AUDCAD pair confirmed its affection by the bullish bias domination by providing frequent positive closings above the key support 0.8960, affected by the positivity of the major indicators, as the moving average 55 moves near the key support, while stochastic rallies above 50 level recently.
Therefore, we will keep our bullish overview that might target 50% Fibonacci correction level initially at 0.9240, while surpassing it might extend trades towards 0.9360 in the upcoming period.
The expected trading range for today is between 0.9070 and 0.9240
The expected trend for today: Bearish
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The EURJPY presses on the moving average – Analysis – 20-5-2020
The EURJPY pair faced additional positive pressures yesterday, which pushed it to surpass the bearish channel’s resistance at 117.70 and form strong bullish wave to face the moving average 55 at 118.20.
MoreThe GBPJPY keeps the bearish bias – Analysis – 20-5-2020
The GBPJPY pair still stable below 38.2% Fibonacci correction level to form additional barrier at 133.30 and supports the continuation of the negativity on the near term and medium term period.
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Platinum price kept its bullish track by moving away from 775.00 support line, noticing recording the first positive target by reaching 853.25 recently, while the stability of stochastic within the overbought areas will increase the positive pressures to ease the mission of surpassing the moving average 55 at 873.00, followed by extending trades towards the second positive station at 915.00.
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