Midday update for the EURUSD 17-11-2023
The EURUSD pair provide negative trades to attempt to move away from 1.0860 level but it returns to fluctuate around it, waiting to get negative motive that assist to push the price to resume the expected bearish trend for the rest of the day, reminding you that we are waiting to visit 1.0760 level mainly.
Note that surpassing the mentioned the mentioned level will extend the bearish wave to reach 1.0645 areas on the near-term basis, while the expected decline will remain valid unless breaching 1.0860 and hold above it.
The expected trading range for today is between 1.0760 support and 1.0920 resistance.
The expected trend for today: Bearish
The EURCHF leans above the moving average – Analysis – 17-11-2023
The EURCHF pair resisted the negative pressures caused by stochastic decline below 50 level by providing new close above the MA55 that forms additional support now at 0.9625.
These factors allow us to suggest forming temporary sideways fluctuation until succeeding to gain the additional positive momentum and ease the mission of reaching towards the main positive station that might start at 0.9680 followed by reaching 50% Fibonacci correction level at 0.9755.
The expected trading range for today is between 0.9630 and 0.9680
The expected trend for today: Bullish
Nothing changed for natural gas price – Analysis – 17-11-2023
Natural gas price didn’t move until this morning, by fluctuating within the sideways track represented by 3.100 support and 3.300 resistance.
Note that stochastic begins to provide the additional negative momentum, which might force the price to decline below the current support to suffer some losses by moving towards 2.920 followed by pressing on the major support at 2.790.
The expected trading range for today is between 3.220 and 2.920
The expected trend for today: Bearish
The EURJPY still bullish – Analysis – 17-11-2023
Despite the EURJPY pair’s lack of the positive momentum and forming correctional bearish wave recently, the main stability within the bullish channel and consolidating above the additional support at 163.00 allow us to keep the bullish overview for the near-term and medium-term trades, to expect targeting 163.95 followed by reaching the next main target at 164.90.
We notice stochastic approach to 20 level to confirm getting rid of the temporary negative pressures, to provide chances to gather the additional positive momentum and ease the mission of reaching the mentioned positive targets.
The expected trading range for today is between 163.25 and 163.95
The expected trend for today: Bullish