Midday update for the EURUSD 12-04-2021
The EURUSD pair faces negative pressure now to test the bullish pennant’s support line mentioned this morning, and the price needs to consolidate above 1.1870 to keep the bullish trend scenario active for today, as breaking it will cause turn to the trend downwards, while the price needs to breach 1.1905 to reinforce the chances of continuing the expected bullish trend for the upcoming period, which its next target located at 1.1975.
The expected trading range for today is between 1.1830 support and 1.1980 resistance.
The expected trend for today: Bullish
The AUDJPY awaits the positive momentum – Analysis – 12-4-2021
No change to the AUDJPY pair’s bullish track, as it remains stable above 81.90 support line, while lacking the positive momentum interprets the reasons of the temporary sideways fluctuations, to notice its consolidation near 83.25.
In general, we will keep our bullish overview, reminding you that the price success to gain the positive momentum will allow the price to renew the pressure on 85.48 high, while surpassing it might extend trades towards 86.10 followed by reaching the main target at 87.15.
The expected trading range for today is between 82.60 and 84.25
The expected trend for today: Bullish
Nikkei index postpones the bullish rally – Analysis – 12-4-2021
Nikkei index returned to fluctuate below 30200.00 barrier, to hinder the bullish rally and force the index to fluctuate negatively by declining towards 29555.00, also, stochastic crawl below 50 level confirms postponing the bullish attack to increase the negative pressures, expecting the attempt to test the minor bullish channel’s support line at 28740.00.
The expected trading range for today is between 30000.00 and 28740.00
The expected trend for today: Bearish
The EURJPY loses its positive momentum – Analysis – 12-4-2021
No news for the EURJPY pair despite its consolidation within the bullish channel, affected by stochastic negativity, to keep its fluctuation below 130.75 barrier, which might force the price to suffer some intraday losses until testing the bullish channel’s support line at 129.35 today.
On the other hand, breaching the current barrier and holding above it will allow the price to resume the bullish attempts, to expect recording new targets that might start at 131.60 followed by 132.70 levels.
The expected trading range for today is between 130.70 and 129.50
The expected trend for today: Fluctuated within the bullish track