Midday update for the EURUSD 18-09-2020
The EURUSD pair fluctuates at the intraday bearish channel’s resistance, noticing that stochastic shows clear negative signals on the four hours’ time frame, waiting to motivate the price to resume the expected bearish trend for today, which targets 1.1720 level mainly.
Therefore, we will keep our bearish overview unless the price rallied to breach 1.1870 followed by 1.1910 levels and hold above them.
The expected trading range for today is between 1.1750 support and 1.1910 resistance.
The expected trend for today: Bearish
The CADJPY test the support – Analysis – 18-9-2020
The CADJPY pair faced strong negative pressures recently, which pushed the price to form bearish correction to test the main support 79.05, while the stability of this support will confirm gathering the positive strengths to manage to start rising and target 80.10 initially, followed by reaching 80.80 in the upcoming period.
The expected trading range for today is between 79.05 and 80.10
The expected trend for today: Bullish
The European index still bearish – Analysis – 18-9-2020
No Change to the European index bearish track by settling frequently below the additional resistance at 3370.00, while the sideways fluctuation is caused by the price attempt to gather the negative momentum again to manage to break 3243.00 support and start recording the main targets that start at 3150.00.
The expected trading range for today is between 3370.00 and 3250.00
The expected trend for today: Bearish
Nikkei index keeps the positivity – Analysis – 18-9-2020
Nikkei index hinted keeping the bullish bias domination by settling above the minor bullish channel’s support line at 23145.00, while resuming the bullish attempts need strong positive momentum to manage to surpass 23620.00 level and open the way to reach 24445.00 high to form the first main target of the bullish attempts.
On the other hand, surrendering to the negative pressures caused by stochastic crawl below 50 level and breaking the current support will cancel the positive overview to expect suffering many losses by moving towards 22370.00 and 21740.00 levels.
The expected trading range for today is between 23150.00 and 24000.00
The expected trend for today: Bullish