Midday update for the EURUSD 16-09-2020
The EURUSD pair trades positively now to approach the key resistance 1.1885, which represents one of the next trend keys besides 1.1840 support, and as we mentioned this morning, the price needs to surpass one of these levels to detect its next destination clearly, which keeps our neutrality valid until now.
To review the details of the expected targets after the breach, please check our morning report.
The expected trading range for today is between 1.1760 support and 1.1940 resistance.
The expected trend for today: Depends on the above mentioned levels
The GBPNZD hits key support – Analysis – 16-9-2020
The GBPNZD pair ended the negative attack after facing key support at 1.9090, to contradict the negative track and force the price to form sideways trades as appears on the chart.
The upcoming scenario depends on the strength of the current support, as continuing to fluctuate above it will increase the chances of forming correctional bullish rebound to target 1.9320 initially, while crawling below the support will open the way to resume the negative attack, to expect moving towards 1.8920 and 1.5880 levels.
The expected trading range for today is between 1.9090 and 1.9200
The expected trend for today: Bullish
The Australian index begins the positive rebound – Analysis – 16-9-2020
The Australian index failed to break 5805.00 level, to continue forming solid support against the recent negative trades and force it to rebound bullishly, approaching the moving average 55 at 5975.00.
The continuous stability of the mentioned support along with stochastic positive momentum signals allow us to suggest the domination of the correctional bullish bias to target 6045.00 and 6138.00 levels.
The expected trading range for today is between 5900.00 and 6045.00
The expected trend for today: Bullish
The EURJPY renews the negative action– Analysis – 16-09-2020
The EURJPY pair got advantage from the extra negative momentum that comes from stochastic decline to the oversold level, to notice renewing the negative action and surpassing the initial negative target at 124.80.
the continuation of suffering negative pressure makes us expect forming new negative trading, to press on 124.10 level and surpassing it might extend the trading to 123.40, to form the next target for the bearish bias.
The expected trading range for today is between 125.10 and 124.10
The expected trend for today: Bearish