The CADJPY prepares for new decline – Analysis – 24-11-2022
The CADJPY pair attacked 50% Fibonacci correction level this morning, affected by the negative pressures that are represented by the stability of the barrier at 105.60, besides the unionism of the main indicators by providing the negative momentum until this moment.
While confirming breaking 104.10 level will open the way for resuming the negative attack, to expect reaching 103.65 initially, then attempts to hit 61.8% Fibonacci correction level at 102.65.
The expected trading range for today is between 104.60 and 103.65
The expected trend for today: Bearish
Natural gas price hits the target – Analysis – 24-11-2022
Natural gas price’s trading extended to 7.610, to achieve the waited target that formed by a strong barrier against the attempts of resuming the bullish attack, to notice forming bearish correctional rebound to 7.130.
The current decline didn’t affect the main bullish track, depending on the stability of the extra support at 6.750, to expect forming sideways trading until gathering the positive momentum, which allows it to renew the pressure on the barrier and find an exit for resuming the rise in the upcoming period.
The expected trading range for today is between 6.900 and 7.650
The expected trend for today: Bullish
The Indian index has to rise – Analysis – 24-11-2022
Despite the Indian index fluctuation within sideways track, while the main stability within the bullish channel and 17940 level forming the neckline of the inverted head and shoulders’ pattern support the chances of resuming the bullish attack for the upcoming period.
Therefore, we will keep our bullish overview, reminding you that the first positive target is located at 18840, while surpassing this barrier will push the price to reach the bullish channel’s resistance at 19460.
The expected trading range for today is between 18000 and 18840
The expected trend for today: Bullish
The EURJPY needs new positive momentum – Analysis – 24-11-2022
The EURJPY pair lost its positive momentum to force it to decline again below 145.65 and settle within the sideways track again, which depends on the stability of the additional support at 143.85, reminding you that the main stability within the bullish channel forms major factor to reinforce the bullish scenario, which allows us to wait to gather the required additional momentum to confirm breaching 145.65 and reach the positive targets at 146.20 and 147.10.
The expected trading range for today is between 144.20 and 145.65
The expected trend for today: Sideways