Midday update for the EURUSD 07-06-2023
The EURUSD pair resumes its negative trading to test the intraday bullish trend line that appears on the chart, waiting for more decline to test 1.0650 as a first station, reminding you that breaking it will extend the bearish wave to reach 1.0520.
In general, the bearish trend will remain valid and active conditioned by the price stability below 1.0730.
The expected trading range for today is between 1.0600 support and 1.0750 resistance.
The expected trend for today: Bearish
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