Midday update for the EURUSD 07-10-2021
The EURUSD pair continues to fluctuate around 1.1563 level and still below it until now, accompanied by stochastic loss to the positive momentum, which keeps our bearish overview valid for today, supported by the negative pressure formed by the EMA50, reminding you that our first main target is located at 1.1500.
The expected trading range for today is between 1.1460 support and 1.1620 resistance.
The expected trend for today: Bearish
Natural gas price records the initial target – Analysis – 7-10-2021
Natural gas price kept its negative stability below the resistance at 6.300, to force it to begin the bearish correctional track, to notice its approach from the initial negative target at 5.600.
Note that stochastic exit from the overbought level will increase the chances for gathering the negative momentum in the current period, to increase the chances for resuming the negative attack, to expect reaching 5.350 then attempt to test the initial support at 4.880.
The expected trading range for today is between 5.900 and 5.350
The expected trend for today: Bearish
The EURJPY repeats the negative fluctuation – Analysis – 7-10-2021
The EURJPY price kept its negative stability within the bearish channel’s levels, to notice its sharp decline from the resistance level at 129.50 achieving 128.33 level.
Resuming the negative attack requires reaching below the extra support at 128.05, to open the way towards recording more of the negative targets that begin at 127.45 and 126.65.
The expected trading range for today is between 129.10 and 128.10
The expected trend for today: Bearish
The GBPJPY failed to breach – Analysis – 7-10-2021
The GBPJPY pair failed to breach the barrier that is represented by 152.20 level, which forces it to form a new bearish correctional rebound, recording 150.75 level, then attempt to settle above the moving average 55 as appears in the above image.
In general, the stability of the trading within the bullish channel’s levels and stochastic attempt to provide positive momentum by reaching 80 level supports the continuation of the positivity, to keep waiting for achieving the required breach to target 152.80 and 153.45.
The expected trading range for today is between 151.00 and 152.80
The expected trend for today: Bullish