Midday update for the EURUSD 03-08-2022
The EURUSD pair shows positive trades to test 1.0200 level, waiting to breach this level to confirm rallying towards our expected positive targets that start at 1.0278 followed by 1.0355, noting that stochastic supports the expected rise, while the positive scenario will remain valid unless breaking 1.0100 and holding below it.
The expected trading range for today is between 1.0120 support and 1.0270 resistance.
The expected trend for today: Bullish
The AUDCAD keeps the negativity – Analysis – 3-8-2022
The AUDCAD pair ended its correctional bullish rebound recently by facing strong resistance at 0.9035, to force it to form new negative waves and record 0.8875 level, noting that the stability of the moving average 55 near the major resistance and stochastic negative momentum signals allow us to suggest more negative trades that might target 0.8820 followed by reaching the obstacle at 0.8735.
The expected trading range for today is between 0.8945 and 0.8820
The expected trend for today: Bearish
Natural gas price begins to decline – Analysis – 3-8-2022
Natural gas price confirmed its affection by the domination of the bearish bias, to notice forming strong bearish wave yesterday and approach 50% Fibonacci correction level at 7.610.
We remind you that the bearish track will remain valid as long as the additional barrier at 8.210 remains intact, in addition to the continuous negative momentum coming by stochastic, which increase the chances of breaking the current obstacle and reach new negative stations that might start at 7.330 and 7.050.
The expected trading range for today is between 7.900 and 7.330
The expected trend for today: Bearish
The EURJPY hits the target – Analysis – 3-8-2022
The EURJPY pair succeeded to reach the additional negative target at 133.50, to form solid obstacle against the negative attempts and rebounds positively towards 136.05, expecting to form mixed trades now in order to reinforce the chances of gaining the positive momentum and cover more suffered losses to target 136.65 that formed additional barrier recently against the negative trades.
Note that succeeding to breach 136.65 and getting positive closings above it will assist to activate the bullish track again, to expect forming strong bullish rally and reach towards 138.20 initially.
The expected trading range for today is between 134.65 and 136.65
The expected trend for today: Bullish