Midday update for the EURUSD 05-07-2022
The EURUSD pair traded with strong negativity to break the bearish pennant’s support line and surpasses our waited negative target at 1.0355 to confirm the extension of the bearish wave on the intraday and short term basis, opening the way to head towards our next target at 1.0250, to keep the bearish trend scenario dominant in the upcoming period conditioned by the price stability below 1.0410.
The expected trading range for today is between 1.0250 support and 1.0360 resistance.
The expected trend for today: Bearish
The AUDND keeps the positivity – Analysis – 5-7-2022
The AUDNZD pair repeated the positive closings above the bullish channel’s support line at 1.0915, to notice achieving some gains by rallying towards 1.1080, noting that it is important to gather the additional positive momentum to assist to renew the bullish attempts, to expect targeting 1.1108 followed by reaching the previously recorded top at 1.1120.
The expected trading range for today is between 1.1020 and 1.1108
The expected trend for today: Bullish
Natural gas price provides negative signal– Analysis – 5-7-2022
Natural gas price provided negative signal by declining below 6.170, suffering some losses due to reaching 5.400, noting that the frequent negative stability below the broken support and stochastic negative momentum signals form major factors to reinforce the domination of the bearish bias, expecting to crawl towards 5.100 followed by reaching 23.6% Fibonacci correction level at 4.400.
The expected trading range for today is between 6.050 and 5.100
The expected trend for today: Bearish
The EURJPY hovers near the additional barrier – Analysis – 5-7-2022
The EURJPY pair formed bullish wave yesterday, to approach 142.25 barrier as appears on the chart, reminding you that the stability of this barrier will increase the chances of renewing the correctional bearish attempts, to expect targeting 141.20 followed by reaching 140.00 as a first target for the bearish track.
Succeeding to breach the mentioned barrier will allow the price to activate the bullish track again, to expect gathering the positive momentum to start achieving some gains by reaching 143.10 followed by repeating the pressure on 144.30 recorded high.
The expected trading range for today is between 142.25 and 141.20
The expected trend for today: Bearish