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Midday update for the EURUSD 18-01-2024
The EURUSD pair faces negative pressure now to head towards testing the key support 1.0860, and as we mentioned this morning, the price needs to hold above this level to keep the bullish trend scenario active, which targets 1.0960 initially.
On the other hand, we should note that breaking 1.0860 will reactivate the negative effect of the head and shoulders’ pattern that its signs appear on the chart and push the price to rally towards 1.0765 as a first negative station.
The expected trading range for today is between 1.0820 support and 1.0980 resistance.
The expected trend for today: Bullish
The CHFJPY holds above the support – Analysis – 18-1-2024
Despite the CHFJPY pair’s recent weak trades and fluctuating near 171.10, the frequent stability above the bullish channel’s support line at 107.15 forms major factor to confirm the continuation of the positivity for the upcoming trading.
The price might get the additional positive momentum by stochastic approach to 80 level, to activate the bullish rally and wait to record new gains by moving towards 171.70 and 172.35.
The expected trading range for today is between 170.90 and 171.70
The expected trend for today: Bullish
Natural gas price awaits the positive momentum – Analysis – 18-1-2024
Natural gas price continued to provide mixed trades recently due to the contradiction between the major indicators, to notice its stability near the MA55 at 2.850, reminding you that the frequent stability above the key support 2.520 forms main factor to confirm the chances of renewing the bullish rally soon, thus, we will keep waiting to gather the positive momentum and manage to jump above 3.100 level followed by repeating the attempts to reach the positive stations represented by 3.450 and 3.950.
The expected trading range for today is between 2.750 and 3.100
The expected trend for today: Bullish
The EURJPY surpasses the second target – Analysis – 18-1-2024
The EURJPY pair resumed the bullish rally yesterday, caused by its consolidation within the bullish channel, to notice surpassing the second target at 161.20 to settle above it and confirm keeping the bullish scenario for the upcoming period.
Also, stochastic consolidation within the overbought areas supports the chances of gaining the additional positive momentum, to ease the mission of recording new gains soon, it might extend towards 161.80 followed by reaching the minor bullish channel’s resistance at 162.35.
The expected trading range for today is between 160.90 and 161.80
The expected trend for today: Bullish