The GBPCAD attacks the moving average – Analysis – 7-6-2023
The GBPCAD pair confirmed its affection by the domination of the bearish bias since it exited the bullish channel, to notice crawling towards 1.6620 level and press on the MA55, expecting to form solid barrier at 1.6745 to increase the chances of renewing the negative attempts, to expect breaking 1.6620 and reach new negative stations that might start at 1.6530 and 1.6425.
The expected trading range for today is between 1.6690 and 1.6580
The expected trend for today: Bearish
Natural gas price without any change – Analysis – 7-6-2023
Natural gas price still waiting for any motivate to manage to exit the recently dominating calm trades, caused by the stability of 2.750 resistance and 1.9500 solid support line.
Therefore, we will stay neutral until surpassing one of these levels, noting that succeeding to decline below 1.950 will open the way to target new negative stations that might start at 1.480, while rallying above the resistance will confirm getting rid of the domination of the bearish bias, to start forming strong bullish waves that might push it to reach 3.100 followed by 3.500 levels.
The expected trading range for today is between 2.100 and 2.500
The expected trend for today: Neutral
The EURJPY threats the positive stability – Analysis – 7-6-2023
The EURJPY pair provided negative signal by crawling below the minor bullish channel’s support line at 149.50, to increase the chances of regain the bearish bias by settling near 148.85, expecting to face strong negative pressures and get negative momentum by the major indicators to target 148.10 level, while surpassing it might extend losses towards 147.30.
On the other hand, regaining the bullish bias requires forming strong bullish wave to settle above 150.00 level and increase the chances of recording additional gains in the upcoming period.
The expected trading range for today is between 149.30 and 148.10
The expected trend for today: Bearish
The GBPJPY still bullish – Analysis – 7-6-2023
Despite the negative pressures that the GBPJPY pair faced yesterday and forming bearish wave, that didn’t affect the main stability due to the frequent consolidation above the bullish channel’s support line at 172.40.
These factors allow us to wait to gather the positive momentum to manage to activate the bullish attack again, which will target 174.30 level initially followed by pressing on 174.75 obstacle.
The expected trading range for today is between 172.75 and 174.00
The expected trend for today: Bullish