Midday update for the EURUSD 02-12-2021
The EURUSD pair didn’t show any strong move since morning, to continue fluctuating within sideways track, thus, no change to the bearish trend scenario that depends on the price stability below 1.1375, reminding you that our next main target reaches 1.1145.
The expected trading range for today is between 1.1250 support and 1.1400 resistance.
The expected trend for today: Neutral
The AUDCHF faces key support – Analysis – 2-12-2021
The AUDCHF pair ended its recent negative attack by facing historical support at 0.6515, to force it to stop the negative bleeding and form sideways fluctuation as appears on the chart.
The upcoming scenario depends on the stability of the mentioned support line, as succeeding to hold above this support will increase the chances of forming bullish rally in order to reach 0.6670 followed by moving towards the moving average 55 at 0.6775, while declining below the support line will open the way to resume the negative attack, to expect suffering additional losses that might extend towards 0.6445 followed by reaching 0.6300 in the upcoming period.
The expected trading range for today is between 0.6515 and 0.6670
The expected trend for today: Bullish
The EURJPY moves within tight range – Analysis – 2-12-2021
The EURJPY pair moved within tight range represented by 127.55 support and 128.50 resistance.
This factor allows us to stay aside today and wait to surpass one of the dominant levels in order to detect the next main targets, as surpassing the resistance will push the price to record some positive targets by rallying towards 129.20, while crawling below the support will force the price to suffer additional losses that might extend towards 126.80 initially.
The expected trading range for today is between 127.50 and 128.50
The expected trend for today: Neutral
The GBPJPY is forced for the sideways fluctuation – Analysis – 2-12-2021
Despite the GBPJPY pair’s consolidation within the bearish track, 149.75 level continues to form additional support to interpret the reasons of the temporary sideways fluctuations and moving within tight track as appears on the chart.
We will depend on the stability of the additional barrier at 151.60 and stochastic reach to the oversold areas to support the continuation of the negativity, waiting to break the current support line and move towards the next negative target near 148.80.
The expected trading range for today is between 151.35 and 149.20
The expected trend for today: Bearish