Midday update for the EURUSD 20-08-2020
The EURUSD pair settles at the bullish channel’s support line, and as we mentioned this morning, the price needs to consolidate above this level to keep the bullish trend scenario active for today, as breaking it will press on the price to suffer more losses and head towards 1.1710 areas initially, while we are waiting to activate the positive signal provided by stochastic to motivate the price to head towards our next main target at 1.2070.
The expected trading range for today is between 1.1760 support and 1.1940 resistance.
The expected trend for today: Bullish
The CADJPY holds above the support – Analysis – 20-8-2020
The CADJPY pair ended its negative rebound by providing new positive close above the key support 79.85, to confirm the preparation to form strong bullish trades in the near term and medium term period.
The price needs new positive momentum to manage to jump above 80.55 obstacle and manage to record many positive targets by moving towards 81.15 and 82.00 levels.
The expected trading range for today is between 79.90 and 80.55
The expected trend for today: Bullish
The Australian index keeps the positivity – Analysis – 20-8-2020
Despite the Australian index forming some sideways fluctuation recently, its frequent stability above 6025.00 that forms the extension of the bullish channel’s support line supports the continuation of the positivity for the near term and medium term period.
Also, the moving average 55 fluctuation below the major support confirms blocking the price within the bullish range, to keep waiting to gain the additional positive momentum followed by targeting 6220.00 and 6445.00 levels.
The expected trading range for today is between 6060.00 and 6220.00
The expected trend for today: Bullish
Nikkei index seeks the additional momentum – Analysis – 20-8-2020
Nikkei index lost the positive momentum to notice forming intraday negative rebound towards 22900.00, reminding you that the frequent stability above the bullish channel’s support line at 22580.00 allows us to wait to gather the positive momentum again, to ease the mission of breaching 23180.00 in order to reach the first additional target at 23620.00.
The expected trading range for today is between 22650.00 and 23180.00
The expected trend for today: Bullish