Midday update for the EURUSD 11-10-2021
The EURUSD pair continues to fluctuate inside the bearish flag pattern, and as long as the price is below 1.1605, our bearish overview will remain 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 1.1480 support and 1.1620 resistance.
The expected trend for today: Bearish
Natural gas price keeps the positive stability – Analysis – 11-10-2021
Natural gas price succeeded to face stochastic negativity by providing new positive close above the minor bullish channel’s support line at 5.350, to confirm surrendering to the domination of the previously expected bullish trend.
Also, the moving average 55 forms additional support at 5.480, while stochastic provides the positive momentum by exiting the oversold areas, to expect the beginning of forming new bullish waves to target 5.950 and 6.277 levels.
The expected trading range for today is between 5.500 and 6.250
The expected trend for today: Bullish
The EURCAD suffers big losses – Analysis – 11-10-2021
The EURCAD pair faced strong negative pressures recently, to notice forming additional negative attack and surpass 1.4485 support line, suffering additional losses by reaching 1.4412.
We expect 1.4650 level to form additional resistance, along with stochastic negative momentum signals by reaching the oversold areas, to expect resuming the negative attempts until testing the key support at 1.4355 followed by monitoring its behavior to manage to detect the next main trend.
The expected trading range for today is between 1.4450 and 1.4355
The expected trend for today: Bearish
The EURJPY exits the bearish track – Analysis – 11-10-2021
The EURJPY price succeeded to get rid of the domination of the bearish bias by forming strong bullish rally recently, to breach the bearish channel’s resistance near 129.50 and notice recording big targets by reaching 130.42.
We expect the moving average 55 to form the additional support near 129.80, and get more positive momentum signals by stochastic, allowing us to suggest targeting 23.6% Fibonacci correction level at 130.90.
The expected trading range for today is between 129.60 and 130.90
The expected trend for today: Bullish