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Midday update for the EURUSD 08-08-2023

Economies.com
2023-08-08 11:08AM UTC

The EURUSD pair shows new negative trades to test 1.0955 level now, waiting to surpass this level to confirm opening the way to head towards 1.0880 as a next main target.

 

The technical indicators continue to provide the negative signals that support the expected bearish trend, which will remain valid unless the price rallied to breach 1.1030 and hold above it.

 

The expected trading range for today is between 1.0900 support and 1.1040 resistance.

 

The expected trend for today: Bearish

The CHFJPY takes advantage of the positive factors – Analysis – 8-8-2023

Economies.com
2023-08-08 05:45AM UTC

The CHFJPY pair renewed the positive action recently, taking advantage of the main stability within the bullish channel, to notice forming continuous solid support by the MA55 at 162.10, achieving clear gains by rallying towards 164.05, to attack the previously recorded high.

 

Also, stochastic continues to fluctuate within the overbought areas, which might assist to provide additional positive momentum to ease the mission of breaching the current resistance to open the way to reach more positive stations, located at 164.45 and 165.00.

 

The expected trading range for today is between 163.65 and 164.45

 

The expected trend for today: Bullish

Natural gas price gets the positive momentum – Analysis – 8-8-2023

Economies.com
2023-08-08 05:44AM UTC

Natural gas price started to react to the positive pressures caused by stochastic approach to 80 level, to notice its rally above the MA55 and press on 2.7500 barrier.

 

We recommend to wait to breach the current barrier to confirm the activation of the bullish track, to expect targeting 3.100 level first, followed by attempting to reach the first main target at 3.550.

 

The expected trading range for today is between 2.600 and 3.100

 

The expected trend for today: Bullish

The EURJPY achieves some gains – Analysis – 8-8-2023

Economies.com
2023-08-08 05:42AM UTC

The EURJPY pair took advantage of the frequent stability above 155.45 additional support to form some bullish waves and achieve some gains by reaching 157.55, noting that the continuous fluctuation below 158.00 resistance and stochastic consolidation below 80 level will hinder the chances of reaching new positive targets, which increases the efficiency of the correctional bearish track for the near term and medium-term period.

 

These factors along with the stability of the mentioned resistance allow us to expect the beginning of gathering the negative momentum, to ease the mission of reaching 156.20 followed by renewing the pressure on the additional support at 155.45.

 

The expected trading range for today is between 157.80 and 156.20

 

The expected trend for today: Bearish