Midday update for the EURUSD 07-01-2022
The EURUSD pair shows new positive trades and attempts to surpass the EMA50, which might push the price to test 1.1375 before turning back to decline again.
In general, we will continue to suggest the main bearish trend as long as 1.1375 level remains intact, reminding you that our next main target is located at 1.1150.
The expected trading range for today is between 1.1210 support and 1.1360 resistance.
The expected trend for today: Bearish
Coffee price renews the positive action – Analysis – 7-1-2022
Coffee price succeeded to get rid of the negative pressures and provide frequent positive closings above the bullish channel’s support line at 220.00, to notice renewing the positive action and settling above the moving average 55.
Note that it is important to breach 236.10 barrier to open the way to form strong bullish attack, to expect targeting many positive stations, starting at 241.50 followed by 250.60.
The expected trading range for today is between 227.00 and 241.50
The expected trend for today: Bullish
The European index needs new positive momentum – Analysis – 7-1-2022
The European index kept its stability within the bullish channel that appears on the chart, to continue fluctuating near the historical top at 4415.00, while the contradiction between the major indicators interprets the sideways fluctuation, allowing us to wait to gather the positive momentum and surpass the mentioned top to manage to record many historical targets near 4465.00 followed by reaching 4610.00.
Note that attempting to crawl below the additional support at 4245.00 will confirm postponing the bullish attack, to expect to suffer intraday losses by moving towards 4190.00 followed by reaching the bullish channel’s support line at 4115.00.
The expected trading range for today is between 4280.00 and 4465.00
The expected trend for today: Bullish
The Australian index still bullish – Analysis – 7-1-2022
The Australian index formed temporary negative rebound recently due to the lack of the positive momentum, to notice moving towards the moving average 55 at 7337.00, while the continuous stability within the bullish channel and settling above the main support 7255.00 support the continuation of the positivity, to keep waiting to renew the bullish attempts and target 7570.00 followed by reaching 7810.00 to press on the first main station of the bullish bias.
The expected trading range for today is between 7350.00 and 7570.00
The expected trend for today: Bullish